Britishvolt acquires battery cell manufacturer
By Chad Elmore25 May 2022
EAS acquisition expected to complement Britishvolt’s work in electrified transportation, energy storage
Battery cell technology supplier Britishvolt has signed a Sale and Purchase Agreement (SPA) with battery solutions company Monbat Group to purchase its subsidiary EAS, a technology battery cell innovator and manufacturer based in Nordhausen, Germany. The agreement values EAS at $38 million (€36 million) and is subject to completion and any regulatory approvals.
“Our 46xx cell format, developed as part of our wider R&D program, gives Britishvolt a significant competitive advantage in the battery race,” said Orral Nadjari, founder and CEO, Britishvolt. “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 in terms of next-generation, high-performance and long-range battery technology.
“This acquisition – the second in our short history, and first overseas – underscores the drive and determination of Britishvolt to offer best-in-class battery solutions to our customers. 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 decarbonization. We intend to make additional investments in EAS to help to ensure that it can reach its full potential within the Britishvolt family.”
EAS reportedly has more than 25 years of experience in developing and producing large format cylindrical lithium-ion battery cells ranging in size from 7.5 Ah to 50 Ah.
The company’s battery solutions have been adopted for aerospace and defense, submarine and marine, and automotive applications in Europe, Asia and North America. Business partners such as NASA are reportedly already using the company’s cells.
“Britishvolt and EAS are united by common goals. We share a vision, and due to the high synergies, both companies are accelerating their mutual growth,” said Michael Deutmeyer, managing director, EAS. “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. At the same time, we are supporting Britishvolt as a leader in battery cell technology in its focus on international growth.
“Today we see, also monetarily, the great success of a consistent product development strategy. I would like to thank Monbat for the trust and support in every form on our journey together over the past five years. But above all, I want to thank my colleagues and employees who define our company. It is the employees of the entire EAS team for whom I am particularly happy today. We are starting a new EAS era together, at our tried and tested location in Nordhausen, which has stood for pioneering ideas and products from the Innovation Factory for a quarter of a century.”
Britishvolt said the acquisition of EAS is expected to be completed soon.