Green Car Congress
About GCC Contact Add to My Yahoo!

« Mitsubishi Motors Develops Green Plastic: Bamboo-Fiber Reinforced Plant-Based Resin | Main | DOE Grand Challenge Project Completes Sequencing of Cyanobacterium »

Axeon Acquires Advanced Batteries to Develop Li-Ion Systems for Hybrids

17 February 2006

Axeon Holdings—developers of microprocessor architectures optimized to support machine learning—is acquiring Advanced Batteries (ABL)—a designer and manufacturer of high-performance lithium-ion batteries—the better to address the developing market for alternative power sources for electric (EV) and hybrid electric (HEV) vehicles. (ABL operates as MPower.)

The two Scottish companies will develop a battery management system suitable for current and next-generation high-capacity Lithium-ion (Li-ion) battery packs. The companies have already jointly developed a prototype.

Axeon will acquire the entire issued share capital of ABL for a cash consideration of £470,000 (US$818,000) payable at completion, together with a deferred consideration of a maximum of £500,000 (US$800,000) in cash and the issue of up to 3,252,032 Ordinary Shares.

Axeon also hopes that the acquisition will help it accelerate the sales of its control processor core products into the automotive industry resulting from access to the rapidly evolving EV and HEV segments of the automotive market.

February 17, 2006 in Batteries, Hybrids | Permalink | Comments (0) | TrackBack (0)

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/t/trackback/22062/4282893

Listed below are links to weblogs that reference Axeon Acquires Advanced Batteries to Develop Li-Ion Systems for Hybrids :

Comments

Post a comment
[Please keep comments on topic. Disagreement is fine, insults, abuse or wild diversions are not. Comments not meeting those standards will be deleted. Abuse of another commenter’s email address will result in the banning of the offender from this site. In an attempt to prevent the posting of insulting and abusive comments, this site maintains a list of prohibited words and phrases, which, unfortunately, grows with time. Including one of the prohibited words or phrases will flag the comment as "spam", and it will be blocked.]






Green Car Congress © 2008 BioAge Group, LLC. All Rights Reserved. | Home | BioAge Group