Lithium Werks has acquired Valence Technologies including Valence’s proprietary lithium magnesium iron phosphate intellectual property (IP), trademarks and inventory. The IP portfolio also includes patents on high-voltage battery materials for potential future battery breakthroughs.
With its subsidiaries in the USA, Europe and China, Lithium Werks will supply Valence modules and battery management systems to global energy-storage customers, as well as introduce new form factors and enhanced BMSs, improving both energy and power densities, while extending functionality.
“We are excited about the new opportunities that Valence provides to expand the Lithium Werks product offering for our customers. It’s a very complimentary fit with talented people, innovative technologies, world-class lithium battery solutions and leading OEM customers,” said T Joseph Fisher III, CEO, president and co-founder of Lithium Werks.
“This is the first acquisition of Lithium Werks and it immediately provides the company with a strong global presence,” said Knut H Nylaende, chairman and co-founder.