EnergyWatch

US tech giant buys into Danish battery firm

Sensata Technologies injects DKK 21 million (EUR 2.81 million) into Danish battery company Lithium Balance and now holds a 24 percent stake. The deal will help open new doors to the global EV market, tells CEO Lars Barkler.

We met with them for first time at an exhibition a few years back, and they have since assessed us in a pure technological sense. This led to them contacted us last year before summer vacation to hear if they would be able to invest," says Lithium Balance CEO Lars Barkler after news emerged that Sensata bought into the battery firm. | Photo: Valdemar Jørgensen / Jyllands-Posten / Ritzau Scanpix/Jyllands-Posten

A process that has lasted 13 months officially pans out into a deal Wednesday. Sensata Technologies, one the world's leading companies within sensor and operating system technology, has purchased a stake in Danish battery firm Lithium Balance.

US-based Sensata booked USD 2.95 billion in revenue last year and has now invested DKK 21 million (EUR 2.81 million) in Lithium Balance. This capital will play a role in allowing the battery maker to introduce its products into more EVs around the world.

Read the whole article

Get 14 days free access.
No credit card required.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

The 'new' Seadrill estimated to be worth USD 1.2bn

SEB evaluates that the recently restructured Seadrill will have a fair equity value of about USD 1.2bn. Since the news of the restructuring broke over the weekend, the Seadrill stock price has only plummeted.

Higher revenue didn't save Subsea 7 from bottom-line loss

Subsea 7 increased its revenue with 59 percent compared to 2020, however, it was not enough to keep the balance sheet in the black on the bottom line. The offshore company states that delays and Covid-19 impacted business in the second quarter.

Equinor continues advance in Q2

After a year of seeing deficits in several quarters, Equinor now maintains the fine form the company came into during the first quarter 2021.

Further reading

Related articles

Trial banner

Latest News

See all jobs