Endurance Tech acquires ION Energy’s advance electronics unit for $40 Mn
Energy tech startup ION Energy has sold its advanced electronics business unit Maxwell Energy Systems (MESPL) to automotive component manufacturer Endurance Technologies Limited for $40 Mn. As part of the transaction, Endurance will purchase a 51% stake in Maxwell for $17.5 milion (Rs 135 crore) through a combination of primary investment and secondary purchase. The remaining 49% will be acquired in a phased manner over 5 years. Founded in 2016, ION Energy is a cleantech OEM startup backed by Amazon’s Climate Pledge Fund, Climate Capital and YourNest, among others. Continue reading Endurance Tech acquires ION Energy’s advance electronics unit for $40 Mn at Entrackr.
Energy tech startup ION Energy has sold its advanced electronics business unit Maxwell Energy Systems (MESPL) to automotive component manufacturer Endurance Technologies Limited for $40 Mn.
As part of the transaction, Endurance will purchase a 51% stake in Maxwell for $17.5 milion (Rs 135 crore) through a combination of primary investment and secondary purchase. The remaining 49% will be acquired in a phased manner over 5 years.
Founded in 2016, ION Energy is a cleantech OEM startup backed by Amazon’s Climate Pledge Fund, Climate Capital and YourNest, among others.
