+
John Deere to hold majority ownership in Kreisel Electric
Equipment

John Deere to hold majority ownership in Kreisel Electric

John Deere is ready to acquire majority ownership of Kreisel Electric, an Austrian-based developer of immersion-cooled, high-density battery technology.

For Deere, the deal was driven by rising demand for batteries as a sole- or hybrid-propulsion system for off-highway vehicles. The producer plans to use the technology in its lineup of compact utility tractors, compact construction equipment, turf equipment, small tractors, and some road-building equipment since it works toward a future with zero emissions propulsion systems.

Kreisel’s battery technology can be utilised across the comprehensive portfolio of Deere products, and Kreisel’s in-market experience will aid Deere as they grow their battery-electric vehicle portfolio.

Deere will render the global footprint, expertise, and funding to permit Kreisel to continue its fast development in core markets, said Pierre Guyot, senior vice president, John Deere Power Systems. It is an opportunity to fund a firm with exceptional technology that’s designed for the demanding conditions where Deere customers work.

In addition to its patented battery technology, Kreisel has designed a complementary charging infrastructure platform (CHIMERO).

Deere has been testing a battery-electric backhoe since early this year and debuted the 310 X-tier E-Power at The Utility Expo. The unit will head into Phase 2 testing next year, with Deere indicating many of the specs will change before it is available for sale. It is not known at this time if Kreisel's technology will emerge in this machine.

Kreisel Electric will keep its employees, brand name, and trademark and continue to work from its present location in Austria. The firm, established in 2014 by brothers Johann, Markus, and Philipp Kreisel, has approximately 160 full-time employees.

The deal needs final regulatory approval in Austria and is likely to close in February next year. Financial details are not being revealed.

Image Source

John Deere is ready to acquire majority ownership of Kreisel Electric, an Austrian-based developer of immersion-cooled, high-density battery technology. For Deere, the deal was driven by rising demand for batteries as a sole- or hybrid-propulsion system for off-highway vehicles. The producer plans to use the technology in its lineup of compact utility tractors, compact construction equipment, turf equipment, small tractors, and some road-building equipment since it works toward a future with zero emissions propulsion systems. Kreisel’s battery technology can be utilised across the comprehensive portfolio of Deere products, and Kreisel’s in-market experience will aid Deere as they grow their battery-electric vehicle portfolio. Deere will render the global footprint, expertise, and funding to permit Kreisel to continue its fast development in core markets, said Pierre Guyot, senior vice president, John Deere Power Systems. It is an opportunity to fund a firm with exceptional technology that’s designed for the demanding conditions where Deere customers work. In addition to its patented battery technology, Kreisel has designed a complementary charging infrastructure platform (CHIMERO). Deere has been testing a battery-electric backhoe since early this year and debuted the 310 X-tier E-Power at The Utility Expo. The unit will head into Phase 2 testing next year, with Deere indicating many of the specs will change before it is available for sale. It is not known at this time if Kreisel's technology will emerge in this machine. Kreisel Electric will keep its employees, brand name, and trademark and continue to work from its present location in Austria. The firm, established in 2014 by brothers Johann, Markus, and Philipp Kreisel, has approximately 160 full-time employees. The deal needs final regulatory approval in Austria and is likely to close in February next year. Financial details are not being revealed. Image Source

Next Story
Real Estate

DLF Returns to Mumbai with Premium Andheri Residential Project

Delhi-NCR based real estate major DLF announced its return to the Mumbai market on 17 July with the launch of its premium residential project, The WestPark, in Andheri. The first phase includes 416 apartments spread across four towers, with two towers launched on the announcement day. The company plans to invest over Rs 8 billion in the project and expects a topline exceeding Rs 20 billion from Phase 1.“We have launched two towers and, given the strong response, plan to unveil the remaining two towers ahead of schedule, within the next few days,” said Aakash Ohri, Joint Managing Director o..

Next Story
Infrastructure Urban

APCRDA Advances Net Zero Goal with IGBC Training for Officials

In a significant stride towards Andhra Pradesh’s Net Zero target by 2040 and the Swarna Andhra 2047 vision, the Andhra Pradesh Capital Region Development Authority (APCRDA), in partnership with the Indian Green Building Council (IGBC), conducted a high-level capacity-building programme for senior officials in Vijayawada on Friday.Held at a city hotel, the session saw the participation of over 50 senior APCRDA officials, including the Engineer-in-Chief, Chief Engineer (H&B), Director (Planning), Director (Environment), and heads of key departments. The training centred on IGBC’s Green B..

Next Story
Infrastructure Energy

Assam Solar Project Halted as Waaree EPC Contract Is Cancelled

Following the Assam government’s withdrawal from its proposed solar project, the Engineering, Procurement, and Construction (EPC) contract awarded to Waaree Renewable has been suspended. Waaree Group’s EPC division informed the stock exchange of this development through a regulatory filing.The Assam solar project was suspended due to funding challenges, which rendered the initiative unviable for the state government. Waaree Renewable Transmission Limited (RTL) explained that the Government of Assam has withdrawn the project’s funding via the Asian Development Bank (ADB) loan. Consequentl..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?