Sensata Technologies has reportedly announced the acquisition of Spear Power Systems. Sensata is a leading industrial tech company that provides sensor-rich solutions and insights for consumers. On the other hand, Spear Power Systems is a leading solution provider for lithium-ion-based energy storage for demanding and mission-crucial end-user applications.
Spear Power Systems, since its founding in 2013, has been a leading company in electrification solutions by developing next-gen scalable systems of lithium-ion battery storage for demanding applications across air, sea, and land.
The energy storage systems of Spear Power Systems are cell-skeptical and include licensed battery monitoring and management for all chemistries of lithium-ion across numerous battery suppliers providing modular architecture, high energy density, extreme reliability, and safety.
Sensata’s acquisition of Spear furthers its electrification portfolio and plans into new markets of clean energy. The takeover of Lithium Balance in battery management systems by Sensata has helped Spear Power Systems expand and offer energy storage solutions for system integrators and OEMs in rapidly-growing end markets that provide substantial growth opportunities.
Vineet Nargolwala, the Executive Vice President of Sensing Solutions at Sensata Technologies, reportedly mentioned that the company is delighted to know that the team of Spear Power Systems, which comprises more than 40 vastly experienced engineers, will be a part of Sensata.
He added that Spear Power Systems allows the company to bring more complete energy storage solutions to enable the replacement and electrification of combustion applications supporting OEM consumers in different end-markets. These abilities will be solid additions to its product portfolio and will help drive the company’s electrification growth and expedite its strategy of clean energy.
Jeff Kostos, the Co-Founder and Chief Executive Officer of Spear, commented that since the company’s founding in 2013, it has aimed at developing technically unique solutions in energy storage to address the surging demand for the niche e-mobility markets within the operational range of Spear.
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