News Article

Sion Power announces $50 million equity investment by BASF
Date: Jan 12, 2012
Source: Company Data ( click here to go to the source)

Featured firm in this article: Sion Power Corporation of Tucson, AZ

TUCSON, AZ, January 12, 2012 -- Sion Power Corporation, the global leader in the
development of lithium - sulfur (Li - S) batteries, based in Tucson, Arizona, today announced that
BASF invested $50 million to acquire an equity ownership position in the company.

This equity partnership expands upon an existing joint development agreement that BASF
Future Business GmbH established with Sion Power in 2009 to accelerate the
commercialization of Sion’s proprietary Li- S battery technology for electric and plug - in electric
vehicles and other high-energy applications over the next decade.

Sion Power’s Chairman, Dr. Leo Guthart, stated, “Sion Power is the recognized global leader in
lithium sulfur battery technology. We are very pleased that BASF has recognized the high
caliber of our research efforts and the dominance of our patent estate and has elected to
become our partner and co- developer. Our work has now progressed to a strong partnership
and shared vision aimed directly at working together to enable electromobility.”

“We are delighted to strengthen our ties with Sion Power, which will allow us to leverage the
expertise of both companies to deliver leading- edge lithium- sulfur technologies to the batt ery
materials market in the years ahead,” said Dr. Andreas Kreimeyer, member of the Board of
Executive Directors and Research Executive Director of BASF SE.

According to Dr. Dennis Mangino, CEO of Sion Power, “The progress of the technical
collaboration between Sion Power and BASF for more than two years now has led BASF to take
a significant financial stake in Sion. We are proud to announce this expanded partnership and
look forward to realizing the benefits of our synergistic relationship.”

John Kopera, Sion’s Vice President Commercial Operations, expressed , “The light weight and
high energy characteristics of Sion’s lithium sulfur battery technology, that enabled the
achievement of the unrefueled flight endurance world record for unmanned aerial vehic les, will
be keys to success for the next generation of electric vehicles.”

“Advanced cathodes, anodes and other battery materials are key enabling technologies for
battery performance,” noted Ralf Meixner, BASF’s Senior Vice President, Battery Materials.
“Through our investment and collaboration with Sion, we are positioned to take a leadership role
in developing next - generation battery material solutions, further supporting the effort to make
electric cars affordable, environmentally friendly and sustai nable.”

“Our investment in Sion Power supports our long -term objective of becoming the leading
provider of functional materials and components to serve cell and battery manufacturers
worldwide,” added Frank Bozich, President of BASF’s global Catalysts division.

2900 East Elvira Road ● Tucson, Arizona 85756 ● 520 -799 -7500 ● fax 520-799 -7501 ●
About Sion Power

Sion Power Corporation is the global leader in the development of a new generation of high-energy, rechargeable lithium sulfur batteries for portable power and electric vehicle markets.
Established initially as Moltech Corporation in 1994, Sion Power has more than 100 U.S. and
international patents. Sion has assembled a world class team of scientists and engineers
dedicated to advancing and commercializing Li - S battery technology. Further information is
available at

For more information, contact John Kopera, Vice President of Commercial Operations Sion
Power. (520) 799- 7500,

About BASF

BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges
from chemicals, plastics, performance products and agricultural products to oil and gas. As a
reliable partner BASF creates chemistry to help its customers in virtually all indust ries to be
more successful. With its high- value products and intelligent solutions, BASF plays an important
role in finding answers to global challenges such as climate protection, energy efficiency,
nutrition and mobility. BASF posted sales of about €63.9 billion in 2010 and had approximately
109,000 employees as of the end of the year. BASF shares are traded on the stock exchanges
in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information on BASF is available on
the Internet at or in its Social Media Newsroom at