Freudenberg Sealing Technologies Business Group has acquired the majority stake-holding in Xalt Energy.
Freudenberg has been the majority shareholder of Xalt Energy since the start of 2019 for the company headquartered in Midland, Michigan, where it develops and produces lithium-ion technologies for energy storage solutions in the commercial vehicle industry.
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Freudenberg has held 31.8% of the company since March 2018, with the Group now increasing its share to 50.1%.
Freudenberg has also secured the option of acquiring all remaining shares in Xalt Energy during the coming years.
“Taking over the industrial leadership of Xalt Energy is another step towards innovations for electric motor and fuel cell power trains for the future,” said Freudenberg Group CEO, Mohsen Sohi.
Xalt Energy specialises in lithium-ion technologies for high energy/high performance storage technologies in the logistics, railroads, maritime, industrial and automotive industries.
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By GlobalDataThe clean-room production facilities in Midland cover an area of more than 40,000 square metres and are used to manufacture lithium-ion battery cells, packs and modules along with associated controls and software. The company also has a research and development laboratory in Pontiac, Michigan.
Freudenberg and Xalt Energy provide lithium-ion battery systems to suppliers in the commercial vehicle industry, such as American bus manufacturer, New Flyer.
Xalt Energy is also working with several automotive manufacturers as part of the US Advanced Battery Consortium, which includes Fiat, Ford and General Motors. In September 2018, the consortium announced it was developing a stop-start battery system in cooperation with Xalt.
The Freudenberg strategy foresees further investment in materials and components for combustion engines to reduce friction, weight and emissions.
Freudenberg is also working in several Business Groups to develop battery and fuel cell technologies.
