The company behind plans to build a gigafactory in Northumberland has acquired a German electric battery innovator in a €36m deal.
Britishvolt has signed a deal with leading battery solutions business Monbat Group to purchase its subsidiary EAS. The agreement values EAS - an advanced technology battery cell innovator and manufacturer based in Nordhausen, Germany - at €36m (£30.8m) and is subject to completion and any regulatory approvals.
The deal for EAS – which has more than 25 years’ experience in developing and producing large format cylindrical lithium-ion battery cells – marks the second acquisition Britishvolt has made in its quest to bring forward the gigaplant plans.
