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Battery cell pioneer Britishvolt has agreed to buy Monbat Group subsidiary EAS, a cell manufacturer based in Nordhausen, Germany. The deal values EAS at €36 million.
EAS has over 25 years of experience in developing and producing large-format cylindrical lithium-ion cells from 7.5 Ah to 50 Ah. Its products are used in aerospace, defense, marine and automotive applications in Europe, Asia and North America. Prominent customers include NASA.
“Our 46xx cell format gives Britishvolt a significant competitive advantage in the battery race,” said Britishvolt founder and CEO Orral Nadjari. “The acquisition of EAS will allow us to scale up the final part of the 46xx cell development and commercialization program, and put this leading cell product in the hands of our automotive customers—exactly the cell solution they have been seeking. EAS has a proven track record in providing innovative, tailor-made battery cell solutions for its customers, and it makes strategic sense so that we join forces and grow together.”
“Britishvolt and EAS share a vision, and due to the high synergies, both companies are accelerating their mutual growth,” said EAS Managing Director Michael Deutmeyer. “For EAS and its customers, the focus is on greater capacities in the development and production of innovative cells and battery systems. We are expanding our know-how, deepening our ecological and resource-saving approach in production and enlarging our team.”
Source: Britishvolt
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