ABSL Power Solutions Ltd. has provided their lithium battery technology to defense and aerospace applications in the United States and Europe since 2000. The company has been in operation since the 1970s and has supplied batteries for more than 70 space satellites and other space mission systems. ABSL batteries have also been used in mobile military communications throughout the world.
Now, EnerSys—a global leader in stored energy solutions for industrial applications—has announced its purchase of ABSL Power Solutions Ltd. from CIP Industries L.P. Inc.
Chairman, president, and CEO of EnerSys, John D. Craig, says, "this acquisition is another step in our strategy to diversify our technology base and strengthen our prior investments in lithium systems to meet the needs of our customers. EnerSys continues to seek opportunities that offer profitable growth in our chosen markets. We believe that lithium batteries will be a significant growth engine for EnerSys in the coming years, complementing the growth of our existing business in lead and nickel based batteries."
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EnerSys specializes in reserve power batteries used in telecommunication, utilities, uninterruptible power supplies, and other applications. The acquisition of ABSL Power Solutions Ltd. will help propel EnerSys forward into the coming lithium battery age. With oil reserves declining, lithium batteries are being hailed as the next great hope for mobile energy storage. Analysts predict that this century will be for the lithium industry what the last century was for the oil industry, so EnerSys’ acquisition couldn’t have come at a more opportune time.
Now, EnerSys—a global leader in stored energy solutions for industrial applications—has announced its purchase of ABSL Power Solutions Ltd. from CIP Industries L.P. Inc.
Chairman, president, and CEO of EnerSys, John D. Craig, says, "this acquisition is another step in our strategy to diversify our technology base and strengthen our prior investments in lithium systems to meet the needs of our customers. EnerSys continues to seek opportunities that offer profitable growth in our chosen markets. We believe that lithium batteries will be a significant growth engine for EnerSys in the coming years, complementing the growth of our existing business in lead and nickel based batteries."
SEE OTHER TOP STORIES IN THE WDM CONTENT NETWORK
EnerSys specializes in reserve power batteries used in telecommunication, utilities, uninterruptible power supplies, and other applications. The acquisition of ABSL Power Solutions Ltd. will help propel EnerSys forward into the coming lithium battery age. With oil reserves declining, lithium batteries are being hailed as the next great hope for mobile energy storage. Analysts predict that this century will be for the lithium industry what the last century was for the oil industry, so EnerSys’ acquisition couldn’t have come at a more opportune time.
