AG Holdings Acquires Li-ion Maker Axeon
21 April 2009
AG Holdings Limited has acquired the entire business of Axeon Holdings Plc, which was in administration, including 100% of the share capital of the following companies: Axeon Power Limited; Axeon Technologies Limited; Axeon AG; Elektro Montage Bau GmbH (EMB); SAT Akkumulatoren Technik AG (SAT); Zaklad Montazu Ukladow Zasilajacych MAZ Sp Z.o.o. (MAZ).
Axeon is an independent Li-ion solutions provider and is headquartered in Dundee, Scotland. AG Holding is a special purpose investment company incorporated in the UK for the purpose of acquiring Axeon and is backed by funds managed by Ironshield Capital Management LLP.
We have purchased these companies as we believe they have a promising and exciting future. We have an ambitious development plan for the Business as a whole and the acquisition allows us to provide the Business with the necessary financial resources which will, together with management and staff’s expertise, assist it to consolidate its leadership position in Europe and continue its expansion for the benefit of its clients.
—Statement issued by AG Holding and Ironshield
In the automotive sector, Axeon had recently established a long-term supply agreement completed with Allied Vehicles followed by the delivery of prototypes and the first 25 production units to date; completed longer-range battery prototypes for Modec; and delivered prototype batteries for Ruf GmbH (electric sports car), Tecnobus (electric bus), an electric city car, an electric scooter, two heavy-duty plant projects and a materials handling project.
This is very positive. Axeon may very well become another major player in e-vehicle batteries mass production.
More major players will bring about more diversified development, higher performance and lower price within a few years.
The days of over 250 + Wh/Kg energy density; under $250 Kwh and 3000 + cycles are coming.
Future packs will be very scalable and modular. PHEV and BEV buyers will select how many battery modules to buy with the inital car purchase and add more latter (when battery performance increases and price drops and/or to meet changing requirements).
Unless you have a fat pocket book or extrene requirements, there are no reasons to initially buy the full battery module complement, 25% should be a good starting point. Adding the another 75% over the next 3 to 5 years would get you much more for much less.
Posted by: HarveyD | 21 April 2009 at 10:28 AM