Germanys Solarwatt GmbH has taken over storage technology start-up e-Wolf.
As part of the move, the Dresden company will establish Solarwatt Innovation, a new technology center at the e-Wolf site in the western German town of Frechen that will build on the companys storage activities. Solarwatt will produce batteries for its Solarwatt MyReserve storage systems at the new location.
The strength of innovation will by a deciding factor in the future storage market, said Solarwatt CEO Detlef Neuhaus, adding that the integration of e-Wolf would ensure that the companys storage systems continued to set technology and price standards in the industry.
E-Wolf boasts a team that includes the battery technology experts behind Formula 1 team Toyota Racings kinetic energy recovery system (KERS) as well as its innovative control and battery management systems.
E-Wolf has worked with Solarwatt since 2014, providing the battery technology for the groups award-winning MyReserve storage systems.
Solarwatt CFO Carsten Bovenschen added that the acquisition of e-Wolf, which will likely be completed by the end of April, would also allow it to reduce the cost of its storage systems over the long term.
Solarwatt expects to complete the acquisition by the end of April. All of e-Wolfs 19 employees will remain onboard.