Britishvolt, the electric vehicle (EV) battery technology company, has announced it will buy German cell developer and manufacturer EAS for €36 million (£30.7 million/$38.4 million). This will help Britishvolt scale up production alongside its own battery Gigaplant battery facility that is currently being developed in Northumberland.
EAS, which is owned by the Monbat Group, has more than 25 years of experience in developing and producing large-format cylindrical lithium-ion battery cells from 7.5Ah to 50Ah. The company uses compact and unique production technology to guarantee the highest quality standards for its high power and energy cells at the lowest environmental impact.
Orral Nadjari, Britishvolt CEO, said: “Our 46xx cell format, developed as part of our wider R&D program, gives Britishvolt a significant competitive advantage in the battery race.
“The acquisition of EAS will allow us to scale up the final part of the 46xx cell development and commercialisation programme 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.
“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. We intend to make additional investments in EAS to help to ensure that it can reach its full potential within the Britishvolt family.”
EAS battery solutions have been adopted for aerospace and defence, submarine and marine, and automotive applications in Europe, Asia and North America. This includes prominent business partners, such as NASA, who are already powered by the company’s cells.
The EAS acquisition complements Britishvolt’s drive to lead in the R&D and manufacture of electrified transportation and sustainable energy storage. Britishvolt intends to invest further in EAS to expand its advanced battery cell technology strengths.
Michael Deutmeyer, EAS managing director, said: “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. 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.
“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.”
Victor Spiriev, Monbat CEO, said: “The deal structure fully supports the roadmap for the development of EAS and the Monbat Group. Monbat will continue to be part of the expected growth of the lithium-ion industry through the minority stake that the Group will hold in Britishvolt.
“We believe Britishvolt is the right partner that has the necessary resources to become a leader in providing lithium-ion solutions for electrified transportation and energy storage. The synergies between EAS and Britishvolt will further contribute to add value to the new owner, their shareholders and partners.”
Britishvolt’s acquisition of EAS is expected to be completed soon, subject to any necessary regulatory approvals.