Linamar announces exclusive manufacturing, licensing agreement, and investment in battery pack module leader eMatrix.
Linamar Corporation (TSX: LNR) announced that it has entered into an exclusive Manufacturing and Licensing Agreement with Michigan-based eMatrix Energy Systems, Inc. to gain access to leading modular battery pack technology.
The agreement positions Linamar as the exclusive manufacturing partner of eMatrix’s modular battery packs and grants Linamar exclusive licensing privileges in key markets. With the new partnership and investment, Linamar has taken a meaningful minority equity position in eMatrix ownership. Terms of the investment were not disclosed.
Under the umbrella of Linamar’s recently announced eLIN Product Solutions Group, this initiative is the Company’s first expansion into Power Storage solutions. The deal leverages Linamar’s expertise in manufacturing and supply chain management, as well as existing infrastructure and industry relationships to accelerate and expand the scaling of eMatrix’s product offerings.
Further, the transaction allows Linamar to participate as both a shareholder and contract manufacturer with this rapidly growing startup.
eMatrix’s modular battery pack systems feature a unique pack design easily assembled to scale to customer needs, uses standard battery cells and are controlled with a unique Battery Management System designed to optimize thermal performance. The resultant system is scalable, flexible, lower cost and drives better efficiency in performance. The modular battery pack systems provide a highly competitive product offering to customers across Linamar’s Mobility and Industrial business segments.
Linda Hasenfratz, Linamar’s CEO.
I am very pleased to be announcing this manufacturing agreement and investment in eMatrix.
“This partnership is the first major implementation by our eLIN Product Solutions Group and our first expansion into the highly opportunistic Power Storage segment. eMatrix are leaders in energy storage systems for electrified solutions and we are very excited for the value their products will bring to Linamar’s customers and stakeholders.”
Idan Kovent, President and CEO of eMatrix.
We are excited for the scale and manufacturing expertise that Linamar brings to this alliance.
“We have developed a groundbreaking energy storage system that is easier to modify and scale, so it fits an exceptionally wide range of potential applications. Thousands of our patented eBrick™ modules are already powering both on- and off-highway products such as commercial electric vehicles and charging stations.”
“They are also providing a uniquely compact energy storage solution for solar-powered buildings and have become a versatile power source for a large variety of industrial robotic equipment. With this increasing demand for our products, our partnership with Linamar will allow us to incorporate their renowned manufacturing expertise, as well as utilize their facilities worldwide, to expand our manufacturing and distribution capabilities.”
“As a result, eMatrix can accelerate our growth with both existing and new customers and provide them the highest quality product.”
eMatrix Energy Systems is an innovative energy technologies creator founded in 2016 and headquartered in Southfield, Michigan, a Detroit suburb. The Company is a leader in the development of advanced electrification solutions in multiple commercial verticals.
Its patented eBrick™ battery module provides OEMs a uniquely versatile and customizable design that scales better and easier to their specific applications, enabling them to launch faster. In addition, the eMatrix proprietary battery management system offers a fully integrated plug-and-play solution that ensures safe and efficient energy system performance over the long term.
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Linamar Announces Exclusive Manufacturing, Licensing Agreement, and Investment in Battery Pack Module Leader eMatrix, GUELPH, ON, September 28, 2021
