Britishvolt has signed a SPA with the Monbat Group to acquire EAS Batteries for €36m
Nordhausen – Battery cell pioneer 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.
Orral Nadjari, Founder and CEO, Britishvolt:
“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 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 path to marine battery solutions, EAS will also facilitate getting battery systems to this particular market segment quicker and help the pathway to decarbonization.
“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, which is currently fully owned by the Monbat Group, has more than 25 years of experience in developing and producing large-format cylindrical lithium-ion battery cells from 7.5 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.
EAS battery solutions have been adopted for aerospace and defense, 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.
