Canada’s graphene products developer Grafoid has bought lithium-ion automotive battery maker Braille Battery.
Grafoid acquired 75% ownership interest in US-based Braille Battery, which produces lightweight lithium-ion batteries and AGM lead-acid batteries for IndyCar, NASCAR, Formula 1 racing cars, motorcycles and batteries for the marine industry. Braille Battery’s founder Blake Fuller will remain president and chief operating officer.
Financial details on the deal were not disclosed.
Grafoid aims to commercialise its graphene technology, the so-called MesoGraf products, with the acquisition. “Grafoid’s high-energy performing MesoGraf graphene combined with Braille’s cutting edge engineering and manufacturing capabilities create a perfect fit for adapting a novel power source to the needs of our future electric vehicle manufacturing customers,” said Grafoid CEO Gary Economo.
“The diverse capabilities of MesoGraf graphene will enable Braille Battery to improve not only lithium ion batteries, but other transportation power technologies,” said Blake Fuller, who founded its firm 2002 next to his involvement in racecar driving.
According to the company, its products are cheaper, because the company managed to simplify the production process from raw graphite to the final product.
In 2013, Grafoid launched a commercial platform with Focus Graphite, owner of Quebec’s graphite deposit and he National University of Singapore’s Graphene Research Centre, the IP holder of the MesoGraf production process.