Birla Carbon acquires battery materials maker Nanocyl, expands in nanotech space

MARIETTA, Ga.—Driven by the growing energy systems sector, Birla Carbon has acquired Belgian battery materials and nanotechnology manufacturer Nanocyl S.A.

Terms of the Oct. 11 transaction were not disclosed. Birla Carbon is a subsidiary of Mumbai, India-based Aditya Birla Group.

"Birla Carbon has been nurturing a number of innovation opportunities in its effort to realize its multi-prong sustainability agenda," said Santrupt Misra, group director at Birla Carbon and director of chemicals for Aditya Birla Group. "The acquisition of Nanocyl is a clear step toward executing its strategy in that direction."

Specifically, that direction is leading Birla Carbon toward an expanded portfolio in lithium-ion battery and conductive materials—company growth beyond standard carbon black grades.

"We hope that this partnership will enable Birla Carbon to be a significant player in the emerging energy systems space," Misra said. "Aditya Birla Group has been concentrating on investing in sustainability and circularity-driven initiatives led by innovation in order to be future-ready."

Nanocyl was founded in Sambreville, Belgium, in 2002. After more than two decades, the start-up has become well-versed in multi-wall carbon nanotubes for rubber and polymers, a powder additive that conducts or provides dissipative behavior.

The $5.9 million (estimated 2023 net sales) Nanocyl also produces various polymer dispersions for use in epoxy, rubbers, polyols and silicones, as well as for coatings and energy storage applications.

The carbon nanotubes market, which reached a global market value of about $2 billion in 2022, is forecast to reach around $7.71 billion by 2032.

The CNT market is expected to drive growth at a CAGR of 14.5 percent from 2023 to 2032, according to Precedence Research, which has offices in Ottawa, Canada, and India.

"We are proud of our journey to develop and commercialize (carbon nanotubes) successfully over the past 20 years as an entrepreneurial start-up, with the support of our current partners and investors," said Laurent Kosbach, CEO of Nanocyl. "However, with growing needs for our products, the time has come to join a global industry leader in order to maximize the synergies and the potential of these materials across many end uses."

Kosbach added that Nanocyl will look to leverage Birla Carbon's expertise, portfolio and market experience.

According to Birla, the addition of Nanocyl will be a perfect fit in the nanotechnolgy space, considering Birla also produces the Conductex family of conductive carbon black additives and active anode materials.

"The inclusion of Nanocyl's advanced (carbon nanotubes) provides Birla Carbon with a remarkable range of solutions for conductive applications," said John Loudermilk, president and CEO of Birla Carbon. "We are thrilled to welcome Nanocyl into the Birla Carbon family. Laurent and his experienced team have been pioneers in the field of carbon nanotubes that provide unique performance characteristics for a wide range of applications, most notably energy systems such as lithium-ion batteries."

Loudermilk said Birla Carbon's "commitment to driving growth through innovation in sustainability aligns well with the potential for (CNTs) to enable the electrification of the transportation industry, deliver enormous environmental benefits and prevent climate change."

CNT's range from 1 to 100 nanometers in size and exhibit unique properties and characteristics due to their small size.

Outside of electronics and energy storage, they are used in health care and drug delivery, lightweight and strong composites, and environmental remediation.

Birla also has partnered with (but not acquired) Canton, Mass.-based Chasm Advanced Materials Inc., a smaller chemical manufacturer that focuses on opportunities in carbon black-CNT hybrid materials, Birla representatives told Rubber News in 2022.

This partnership with Chasm—much like CNT manufacturer Molecular Rebar's distribution partnership with Lyndhurst, N.J.-based Swan Chemical Inc. or Nanocyl's previous partnership with Uniontown, Ohio-based ChemSpec—primarily is a joint development agreement, although the Birla-Chasm partnership has evolved into an investment.

Birla Carbon, with about 1,300 employees, also produces sustainable carbon blacks for paints and coatings, inks and toners, plastics, adhesives, sealants, textile fibers, mechanical rubber goods and tires.

The $332 million Birla maintains a presence in 12 countries, with 16 manufacturing facilities and two technology centers in Marietta and Taloja, India, respectively.

Nanocyl has annual revenue of between $5 million and $6 million, according to Rocket Reach, a public website for business profiles.

The company has about 44 employees.