Deere & Co. has acquired majority ownership in Austria-based Kreisel Electric, Inc., a leading pioneer in the development of immersion-cooled battery technology.
Moline-based John Deere first announced on Dec. 14, 2021, that it had signed an agreement, pending regulatory approval, with the battery technology provider based in Rainbach im Mühlkreis, Austria. The transaction is now complete, following the necessary approval.
The company manufactures high-density, high-durability electric battery modules and packs for high-performance and off-highway applications and has created a battery-buffered, high-powered charging infrastructure platform (CHIMERO).
Kreisel Electric was founded in 2014 by brothers Johann, Markus and Philipp Kreisel. It has about 180 full-time employees. The family-run company will retain its brand name and trademark.
According to Deere, the investment provides it with optimal integration to efficiently design vehicles and powertrains around superior immersion-cooled, high-density battery technology. The global ag equipment maker has said it will leverage Kreisel’s battery-buffered charging technology to build out infrastructure to support global customers. Deere said Kreisel also has developed CHIMERO that uses this patented battery technology.
Deere has projected that demand will grow for batteries as a sole- or hybrid-propulsion system for off-highway vehicles. Products in John 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 company said.
The equipment maker also has said the Kreisel acquisition strongly aligns with Deere’s electrification and sustainability goals.
Kreisel “has a differentiated battery technology and battery-buffered charging infrastructure offering and currently serves a global customer base across multiple end markets, including commercial vehicles, off-highway vehicles, marine, e-motorsports, and other high-performance applications.”