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A composition is provided as a salt having the formula MBF3X where M is an alkali metal cation and X is the halide fluoride, bromide or iodide. A lithium salt has several characteristics making the composition well suited for inclusion within a lithium-ion battery. A process for forming an alkali metal trifluorohaloborate salt includes the preparation of a boron trifluoride etherate in an organic solvent. An alkali metal halide salt where the halide is chloride, bromide or iodide is suspended in the solution and reacted with boron trifluoride etherate to form an alkali metal trifluorohaloborate. The alkali metal trifluorohaloborate so produced is collected as a solid from the solution. The process is simple and yields alkali metal trifluorohaloborate of sufficient purity to be used directly in battery applications.