Wireless charging company Electreon has signed a memorandum of understanding (MoU) to acquire the assets of US-based InductEV.

InductEV develops ultra-fast, high-power static wireless charging systems for heavy-duty electric transit and freight fleets.

Electreon, headquartered in Israel, intends to merge InductEV’s static wireless charging technologies and software platform with its own dynamic wireless charging and stationary high-power solutions.

Following the signing of a definitive agreement, the combined operation is expected to offer an expanded suite of wireless charging options for a range of vehicle types, including passenger cars, vans, buses, heavy-duty lorries and autonomous vehicles.

InductEV CEO John Rizzo said: “I've long believed that wireless charging will redefine how fleets operate. Electreon shares that vision and brings the global reach and dynamic technology to make it a reality.

“Together, we're combining world-class innovation with real-world experience to deliver even greater value to our North American and European customers and accelerate the shift to wireless power for sustainable commercial transportation.”

According to Electreon, bringing these technologies together is aimed at creating an integrated wireless charging offering that can be deployed across multiple fleet and vehicle use cases.

The company stated that pooling their project pipelines, commercial relationships and intellectual property – together accounting for nearly 400 granted and pending patents – is expected to “significantly” strengthen the merged entity’s position in North America as well as in other markets.

Electreon CEO Oren Ezer said: “We see this step as a defining moment for Electreon and for the global wireless charging industry. InductEV is the US market leader in ultra-fast stationary wireless charging, and Electreon is the world leader in dynamic wireless charging with a proven, reliable product.

“This transaction will generate powerful synergies across our technologies, manufacturing capabilities, strategic partners, and customer bases – and the decision by InductEV's shareholders to invest in Electreon is a tremendous vote of confidence in our shared vision.”

Both firms already work with vehicle manufacturers, which they say helps streamline integration of their systems and support broader market uptake.

Electreon also plans to apply its operational expertise and lower-cost manufacturing capabilities to the combined platform, which it says will complement InductEV’s technology and help build a scalable wireless charging offering.

The transaction remains conditional on due diligence, final contractual agreements and the securing of necessary regulatory approvals.