Yanmar Acquires Majority Ownership in Battery Technology Company ELEO : CEG

Yanmar Acquires Majority Ownership in Battery Technology Company ELEO : CEG

Takayuki Onodera (L), of Yanmar, and Bas Verkaik, of ELEO at the signing ceremony.

Yanmar Holdings Co. Ltd., a privately held multi-billion dollar multinational organization headquartered in Osaka, Japan, formally announced it has acquired a greater part share in ELEO Systems B.V., a quick-developing battery technology business based in Helmond, the Netherlands.

By integrating ELEO’s advanced, scalable and modular battery technology, Yanmar will even more its electrified powertrain abilities with multipurpose, custom made remedies for off-highway applications.

“We are thrilled to associate with Yanmar,” mentioned ELEO co-founder Bas Verkaik. “Yanmar’s major posture, quality brand name reputation, international community and many years-extensive expertise in off-road applications and ELEO’s innovative modular battery units are a best match to speed up the adoption of electrified powertrain answers globally.”

Yanmar acquired a bulk share in ELEO by its subsidiary Yanmar Europe B.V., by means of a sequence of associated transactions such as a complete exit of early-stage trader Lumipol Team. The monetary phrases of the deal ended up not disclosed.

After joining the Yanmar Group as component of Yanmar Energy Engineering Co. Ltd., ELEO will carry on to run as a stand-by yourself entity under its very own manufacturer at its current locale in Helmond, the Netherlands. ELEO’s founders Bas Verkaik, Jeroen Bleker and Bram van Diggelen, will keep their concentrate on even further strengthening the firm’s know-how and accelerating business development. The founders will be joined by essential executives from Yanmar to type the company’s administration board.

“Yanmar is dedicated to offering electrical powertrain solutions that enable our clients to adopt zero-emission technologies with out compromising on efficiency,” stated Tomohisa Tao, president of Yanmar Power Know-how.

“The expense in ELEO offers us the prospect to adopt extremely progressive technological innovation that has been engineered for the rough conditions in which our end-consumers get the job done. We glimpse ahead to doing work with the ELEO crew on their progressive merchandise roadmap and employing our encounter, know-how and global presence to support them in their exciting progress route, in direction of the realization of a sustainable future.”

For more data, go to www.yanmar.com and www.eleo.tech.