Britishvolt to acquire EAS for €36m
Battery cell technology pioneer Britishvolt is to acquire EAS, the German advanced technology battery cell innovator and manufacturer.
Britishvolt has signed a Sale and Purchase Agreement with the Monbat Group, one of Europe’s leading battery solutions companies, to purchase its subsidiary EAS, the advanced technology battery cell innovator and manufacturer based in Nordhausen, Germany.
The agreement values EAS at €36 million, and is subject to completion and any regulatory approvals.
The EAS acquisition complements Britishvolt’s drive to lead in the R&D and manufacture of electrified transportation and sustainable energy storage. The company intends to invest further in EAS to expand its advanced battery cell technology strengths.
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“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 decarbonisation," said Orral Nadjari, Founder and CEO, Britishvolt.
Michael Deutmeyer, Managing Director, EAS, commented: “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.
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"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.
EAS, which is currently fully owned by the Monbat Group, has more than 25 years’ experience in developing and producing large format cylindrical lithium-ion battery cells from 7.5 Ah to 50 Ah. 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.
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EAS battery solutions have been adopted for aerospace and defence, submarine and marine, and automotive applications in Europe, Asia and North America, and prominent business partners such as NASA are already powered by the company’s cells.
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