EUROPE REPORT
Yanmar Holdings Co. Ltd, the multi-billion dollar multinational company headquartered in Osaka, Japan, has acquired a majority of shares of a young and fast-growing ELEO Technologies B.V. from theNetherlands, this month. The acquisition has been completed through European’s subsidy, Yanmar B.V. An earlier investor, Lumipol Group, has entirely exited the company.
As a part of Yanmar Power Technology Co, Ltd, Eleo will continue operating as an independent entity under its existing brand and with production located in their current site in Helmond, the Netherlands.
ELEO Technologies B.V. was founded in 2017 to design and produce innovative modular electric batteries systems for use in marine, industrial machine, e-mobility, commercial vehicles or specialized recreational product applications.
ELEO’s modular battery technology offers a superior energy density while the flexible design enables the module length to be easily increased without any additional engineering. The modules are easily scalable in any orientation and direction to reach desired voltage and capacity. Batteries are based on the lithium nickel manganese cobalt oxide (NMC) and lithium nickel cobalt aluminum oxide (NCA) technologies.
Co-founders Bas Verkaik, Jeroen Bleker and Bram van Diggelen, will remain the key technology and business developers of the company. They will be joined by executives from Yanmar to form the management board. “Yanmar’s leading position, premium brand reputation, global network and decades-long experience in off-road applications and ELEO’s advanced modular battery systems,” said Bas Verkaik, “are a perfect match to accelerate the adoption of electrified powertrain solutions worldwide.”
President of Yanmar Power Technology, Tomohisa Tao, said Yanmar is committed to delivering electric powertrain solutions that enable their customers to adopt zero-emission technology without compromising on productivity. “The investment in ELEO gives us the opportunity to adopt highly innovative technology that has been engineered for the tough conditions in which our end-users work.”
This transaction is another example of a traditional combustion engine manufacturer looking for innovative technology solutions worldwide to migrate to electric driven systems to achieve zero emission objectives. PSR
Natasa Mulahalilovic is Finance and Administration Manager – Europe, for Power Systems Research
