Sensata is a leading industrial technology company that develops sensors, sensor-based solutions, including controllers and software, and other mission-critical products to create valuable business insights for customers and end users.
Lithium Balance is leading technology provider for battery management systems (BMS) which is critical for the performance in applications utilizing Lithium Ion battery based solutions.
With this transaction, Lithium Balance will become an integral part of Sensata and will leverage Sensata’s channels and customer relationships in the mobile and stationary clean energy markets where the demand for battery technology is growing rapidly due to the transition from fossil fuels to clean, renewable energy.
Lithium Balance’s Xolta brand, which provides fully modular, cloud connected energy storage systems (ESS) for industrial and residential uses will also help expand Sensata’s portfolio of solutions customers.
Lars Barkler, CEO of Lithium Balance, says:
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.
Lithium Balance will continue to be part of the strong 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.
Vineet Nargolwala, Executive Vice President, Sensing Solutions at Sensata Technologies, says:
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.
Nicholas Moelders, Vice President, Electrification Strategy & GM, Battery Management Systems, at Sensata Technologies adds:
We are excited about the people, BMS technology, products and business pipeline that Lithium Balance brings to Sensata. These will be strong additions to our team and portfolio and will help drive the electrification growth vector and accelerate our clean energy strategy.
