EnerSys Invests in Lithium-Ion Battery Business

EnerSys of Reading, Pennsylvania, the world’s largest manufacturer, marketer and distributor of industrial batteries, has purchased a controlling interest in Modular Energy Devices, Inc., a development stage company. ModEnergy produces large format lithium-ion rechargeable batteries used in aerospace, defense and specialized standby power and commercial applications.

Based in Westerly, Rhode Island, ModEnergy has developed a method for assembling lithium-ion cells into battery systems that are designed to be safer and more cost-effective than competitive products currently available.

John D. Craig, chairman, president and CEO of EnerSys, said, “This investment will complement our lead-acid and nickel-based specialty product lines in the standby and specialty battery markets.”