EnerSys will hold a majority stake in the proposed joint venture, which will begin operations in the next month.
Lithium Technology Corp (LTC), a parent company of GAIA, will provide the collaboration with certain intellectual property and its lithium-ion manufacturing capability located in Nordhausen, Germany.
In return, the joint venture will also provide certain products to LTC for their customers in the transportation sector.
EnerSys and GAIA have had a distribution agreement for the past three years.
EAS Germany company has been formed to further develop and produce lithium-ion based solutions for space, naval, marine, renewable energy and specialty high power applications for EnerSys.
EnerSys chairman, president and CEO John Craig said the joint venture represents the company’s fourth investment in advanced lithium based batteries to support its global customers and business.
LTC chairman Fred Mulder said the joint venture with EnerSys will allow for additional investment as well as sales and distribution support for the global industrial markets.
