Fresh from gaining Monaco-based Scorpio Group as a backer to explore power solutions for the maritime industry, UK-based battery startup Britishvolt has agreed to acquire German advanced technology battery cell manufacturer EAS from Monbat Group for €36m ($38.5m).
Britishvolt said that battery solutions from Nordhausen-based EAS 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.
“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,” added Orral Nadjari, founder and CEO of Britishvolt.
The acquisition of EAS is expected to be completed soon, subject to any necessary regulatory approvals. After the deal is closed, Bulgaria’s Monbat will gain a minority stake in Britishvolt.
