Britishvolt Acquires battery-maker EAS for €36m

EAS is active in the development and production of large format lithium-ion cells, a capability Britishvolt will use toward commercialsiation of its own 46xx larger format cells.

In a statement, Orral Nadjari, founder and CEO, Britishvolt 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.

“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.

“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 has over 25 years’ experience in developing and producing large format cylindrical lithium-ion battery cells from 7.5Ah to 50Ah. According to Britishvolt, 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 implemented for aerospace and defense, submarine and marine, and automotive applications in Europe, Asia and North America.

Victor Spiriev, CEO of Sofia, Bulgaria-based Monbat 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.” 

Britishvolt’s acquisition of EAS is expected to be completed soon, subject to regulatory approvals.