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Battery maker Britishvolt powers up with €36 million takeover

A company behind 8000-job Northumberland vehicle battery factory plans has agreed a €36 million takeover.

Britishvolt is buying Monbat Group’s German-based subsidiary EAS.

Bosses say the move for the battery cell maker “underscores its drive and determination to offer best-in-class solutions to customers”.

EAS has more than 25 years’ experience of developing and producing large format cylindrical lithium-ion battery cells, with its apparatus used globally across the aerospace and defence, marine and automotive sectors.

It also works with NASA.

The agreement comes just days after Britishvolt – which is building a plant at Cambois [pictured above] it says will create 3000 direct jobs and up to 5000 supply chain posts – revealed revealed it is working alongside Scorpio Group to steer the shipping industry towards cleaner power.

Orral Nadjari, Britishvolt founder and chief executive, said: “EAS has a proven track record in providing innovative, tailor-made battery cell solutions for its customers, and it makes strategic sense we join forces and grow together.

“We intend to make additional investments in EAS to help to ensure it can reach its full potential within the Britishvolt family.”

Michael Deutmeyer, EAS managing director, added: “Britishvolt and EAS are united by common goals. We share a vision, and both companies are accelerating their mutual growth.

“For EAS and its customers, the focus is on greater capacities in the development and production of innovative cells and battery systems.

“At the same time, we are supporting Britishvolt as a leader in battery cell technology in its focus on international growth.”