Sicona is a Sydney based battery-technology company which develops next generation battery materials technology used in the anodes (negative electrodes) of lithium-ion (“Li-ion”) batteries that enable electric-mobility and storage of renewable energy. Sicona is commercialising an innovative siliconcomposite battery anode materials technology, developed and perfected at the Australian Institute for Innovative Materials (AIIM). Sicona's current generation silicon-composite anode technology delivers 50% to 100% higher capacity than conventional graphite anodes and its anode materials can deliver more than 50% higher cell energy density than current Li-ion batteries.

Sicona uses off-the-shelf equipment in a highly scalable and efficient manufacturing process to produce its active anode materials.

Sicona intends to produce and sell high performance active anode and binder materials into the fast growing global battery market.

The investment by the Company will accelerate product and technology development for Sicona, including engineering of its first commercial scale production plant in the United States and will help to expedite the commercial development of its technology. The technology Sicona is pioneering has strong synergies with Himadri's current and future business portfolio and will help accelerate the latter's business plans.