Britishvolt, the Northumberland-based maker of low-carbon batteries, has acquired Germany’s advanced technology battery cell manufacturer EAS for $38m (€36m).
Britishvolt has signed a Sales and Purchase Agreement with one of Europe’s leading battery solutions companies Monbat Group to acquire EAS as the English battery maker advances its drive in the R&D and manufacture of electrified transportation and sustainable energy storage, the company said.
A subsidiary of Monbat Group, EAS specialises in developing and producing large format lithium-ion cells from 7.5 Ah to 50 Ah, using innovative and compact electrode production technology.
“The acquisition of EAS will allow us to scale up the final part of the 46xx cell development and commercialization programme and put this leading cell product in the hands of our automotive customers,” Orral Nadjari, Founder and CEO, Britishvolt, said of the acquisition, the second in their history, and first overseas.
Earlier this month, Monaco-based shipping firm Scorpio made a strategic investment in Britishvolt aiming to decarbonize the maritime industry.
“Following on from our recent announcement of a development roadmap to marine battery solutions, EAS will also facilitate getting battery systems to this particular market segment quicker and help the pathway to decarbonisation,” Nadjari said.
The company said EAS battery solutions were adopted for aerospace and defence, submarine and marine, and automotive applications in Europe, Asia and North America. Prominent business partners such as NASA are already powered by the company’s cells.
Michael Deutmeyer, Managing Director, EAS said: “We are expanding our know-how, deepening our ecological and resource-saving approach in production, and enlarging our team. At the same time, we are supporting Britishvolt as a leader in battery cell technology in its focus on international growth.”
Commenting on the occasion, Victor Spiriev, CEO of Monbat AD said the synergies between EAS and Britishvolt would further contribute to add value to the new owner, their shareholders and partners.
Britishvolt expects to complete the acquisition soon, subject to any necessary regulatory approvals, the company said.