John Deere Acquires Majority Ownership in Kreisel Electric
Deere & Company has acquired majority ownership in Kreisel Electric Inc., a leading company in the development of immersion-cooled battery technology. The transaction was announced in December 2021 and is now complete, following regulatory approval.
Founded in 2014, Kreisel is an Austrian company manufacturing high-density, high-durability electric battery modules and packs for high-performance and off-highway applications. The company has created a battery-buffered, high-powered charging infrastructure platform (CHIMERO) that utilizes its battery technology. Kreisel’s customer base cuts across multiple end markets, including commercial vehicles, off-highway vehicles, marine, e-motorsports and other high-performance applications.
John Deere indicates that it sees demand growing for batteries as a sole- or hybrid-propulsion system for off-highway vehicles. Products in Deere’s portfolio such as turf equipment, compact utility tractors, small tractors, compact construction and some road building equipment could rely solely on batteries as a primary power source.
The majority investment in Kreisel Electric , states Deere, will allow it “to optimally integrate vehicle and powertrain designs around high-density battery packs while leveraging Kreisel’s charging technology to build out infrastructure required for customer adoption.”
“Kreisel’s battery technology can be applied across the broad portfolio of Deere products, and Kreisel’s in-market experience will benefit Deere as we ramp up our battery-electric vehicle portfolio. Deere will provide the expertise, global footprint, and funding to enable Kreisel to continue its fast growth in core markets,” says Pierre Guyot, senior vice president, John Deere Power Systems. “This is an opportunity to invest in a company with unique technology that’s designed for the demanding conditions where Deere customers work.
“Furthermore, building an electrified portfolio is key to John Deere’s sustainability goal of pursuing new technologies that reduce the environmental impact of new products and work toward zero emissions propulsion systems on equipment, while increasing our customers’ efficiency and productivity,” Guyot continues.
KREISEL ELECTRIC
www.kreiselelectric.com
JOHN DEERE & COMPANY
www.johndeere.com
