Sensata acquires energy storage systems manufacturer Spear Power Systems
Sensata Technologies, an NYSE-listed industrial technology company has wrapped up its previously announced acquisition of energy storage systems manufacturer Spear Power Systems.
The financial terms of the deal, which was announced in August 2021, were not disclosed.
Spear Power Systems is engaged in developing lithium-ion battery storage systems for demanding land, air, and sea applications.
Its energy storage systems are said to be cell-agnostic. The systems include battery management and monitoring for all lithium-ion chemistries from various battery suppliers.
The energy storage systems of Spear Power Systems are said to have features such as high energy density, lightweight, modular architecture, and high safety and reliability.
Jeff Cote — Sensata Technologies CEO and President said: “The acquisition of Spear Power Systems enables us to deliver more comprehensive energy storage solutions to our OEM customers in specialty transportation 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.”