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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Lithium Werks Sells Modular Business Unit to Lithion Power Group

December 22, 2020 GMT

AUSTIN, Texas and ENSCHEDE, The Netherlands, Dec. 22, 2020 (GLOBE NEWSWIRE) -- Lithium Werks, a global leader in Lithium Iron Phosphate cell manufacturing, technology, and intellectual property, announces that it has sold its Valence™ module and BMS assets to Lithion Power Group, a vertically integrated manufacturer of cells and rechargeable and non-rechargeable battery packs.

As a result of the sale, Lithium Werks will concentrate intensely on continuing to develop its “Best in Class” Nanophosphate™ materials, cell production, custom OEM solutions, increasing R&D, and further expanding and strengthening its Lithium Iron Phosphate (LFP) cathode patent portfolio.

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Rapidly growing demand exists for Lithium Werks exclusive technologies from diverse industry sectors on a global basis. The transaction will facilitate Lithium Werks’ continued focus on meeting this demand.

T. Joseph Fisher, III, CEO and Co-Founder of Lithium Werks, B.V., stated:

“This move will sharpen our focus on being able to serve our current and future customers with our most powerful and long-lasting Nanophosphate ™ powder and cells, not only for our existing verticals like industrial, medical and UPS backup, but with a new strategic clarity for mission critical applications including the energy storage and transportation verticals with custom solutions. We look forward to continued growth and expansion as a provider of our leading-edge Nanophosphate ™ cylindrical cells, as well as introducing other new form factors and sizes for those applications that require the Power. Safety. Life. of our MIT developed Nanophosphate ™ cathode materials.”

Lithium Werks possesses the world’s most comprehensive portfolio of Lithium Iron Phosphate materials, cells, Intellectual Property LFP patents and products. Lithium Werks operates in China, Europe, and the United States.

For more information, please visit us at www.lithiumwerks.com.

Contact:
lwmarketing@lithiumwerks.com