August 22, 2019: Lead battery manufacturing giant East Penn announced on August 16 it had bought a majority interest in lithium battery firm Navitas Systems.
East Penn says the move will accelerate its expansion into motive power applications and allow it to integrate into other market segments.
East Penn said the acquisition was in line with plans to provide ‘the most robust array of optimized energy storage system solutions’.
Michigan-based Navitas Systems was formerly MicroSun IESS, LLC, before the company bought A123 Systems’ Government Solutions Group in 2013 to form Navitas.
It makes larger-format lithium battery technology and systems for heavy-duty off-road equipment, deep cycle motive and traction, mission-critical stationary and standby, transportation, defence and renewable energy.
East Penn, traditionally a lead acid battery manufacturer, announced in 2016 that it intended to expand its range to lithium ion batteries.
In April 2019 it released a Ready Power lithium battery for forklift trucks, but this is likely to be the first of many new offerings by the company, which said Navitas’ lithium research and development expertise ‘will add to East Penn’s current lithium R&D program’.
“We are happy to be joining in partnership with such a strong, well established company,” said East Penn CEO Chris Pruitt.