Sensing, electrical protection, control, and power management solutions provider Sensata announced today the acquisition of Spear Power Systems, an energy storage solutions company, with products including lithium-ion batteries for aircraft, marine vessels, and industrial equipment.
The transaction follows Sensata’s recent acquisition of battery management systems provider Lithium Balance, and its 2018 purchase of electrification solutions specialist Gigavac, as Sensata looks to advance its electrification portfolio and position itself strategically for opportunities in new clean energy markets.
Vineet Nargolwala, Executive Vice President, Sensing Solutions at Sensata Technologies, said:
“We are pleased that the talented Spear Power Systems team, including over 40 highly experienced engineers, will be joining Sensata. Spear Power Systems enables us to deliver more comprehensive energy storage solutions to help enable the electrification and replacement of combustion applications in support of OEM customers in diverse end markets. These capabilities will be strong additions to our product portfolio and will help drive our electrification growth vector and accelerate our clean energy strategy.”
Founded in 2013, Spear provides advanced lithium-ion energy storage systems for aerospace, defense, industrial and marine applications. Its energy storage systems are cell-agnostic and include proprietary battery management and monitoring for all lithium-ion chemistries from multiple battery suppliers.
Jeff Kostos, Spear Power Systems CEO and co-founder said:
“Since our inception in 2013, Spear has had a goal of developing technically differentiated solutions in energy storage to address the growing demand in the niche e-mobility markets within which we operate. This deal will mean increased resources so that our incredible team can expand our development, commercial, and operational activities at a pace to meet the rapidly growing need for clean energy solutions. We are very excited to play a meaningful role in contributing towards Sensata’s electrification strategy.”
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