Frankfurt-based LIVA Power Management Systems, a wholly owned subsidiary of Amsterdam-based AMG Critical Materials, has agreed to acquire the VRFB assets of Germany's J.M. Voith.
Voith has developed a unique technology to control and balance large-scale high-voltage VRFB energy storage systems. The technology complements LIVA's large-scale VRFB systems. LIVA plans to integrate the technology into its large-scale energy storage systems.
“This acquisition is an important building block for LIVA to further expand the attractiveness of the VRFB technology,” said LIVA CEO Volker Kölln. “By integrating the Voith IP, we can improve the energy efficiency of electricity storage while reducing system costs. Highly efficient and reliable mass energy storage systems are the key to the energy transition in industry and for grid management applications.”
LIVA and Voith will continue to cooperate in the field of industrial and grid-scale energy storage systems in the future, AMG said in a statement.
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