Sensata acquires majority ownership of Lithium Balance
Sensata, an industrial technology company that develops sensors and sensor-based solutions, has acquired 75% of Lithium Balance based in Denmark.
Lithium Balance is a technology provider for battery management systems (BMS) which is critical for the performance in applications utilising Lithium Ion battery based solutions. The acquisition will advance Sensata’s opportunities in electrification. Founded in 2006, Lithium Balance has pushed lithium-ion battery-based technology forward by developing, manufacturing and selling Battery Management Systems (BMS). As a combined entity, Sensata will be able to leverage its own extensive customer base of large OEMs and Lithium Balance’s proven industrial relationships and technology to accelerate efforts in electrification and Battery Management Systems. "Being part of Sensata brings us access to the top OEMs (original equipment manufacturers) that can help us grow faster. I am proud that Danish-developed battery technology can occupy a place among the leaders in the world," says Lars Barkler, CEO of Lithium Balance, in a press release. Lithium Balance will continue to be part of the technological environment in Denmark, where since 2006, the company has had a years-long research collaboration with especially DTU, Aalborg University and the Danish Technological Institute. "We are pleased that the talented Lithium Balance team is now part of Sensata. We have already seen great benefits from our close collaboration in developing common technology solutions for the benefit of our customers. The acquisition enables us to deliver more comprehensive battery management solutions across a wide range of electrification applications in a variety of industrial and transport markets," Vineet Nargolwala, Executive Vice President, Sensing Solutions at Sensata Technologies.