Venture capital firm VXG Capital Partners has acquired the battery management system assets of Florida’s Encell Technology.
Now trading as Servato Corp, the New Orleans-based firm’s schtick is proprietary algorithms for managing, charging and monitoring lead acid batteries used for industrial backup or reserve power.
Its USP is its Sentinel Active Battery Management System, which takes the batteries off float current and charging them once every 24 hours. Servato claims this reduces electricity consumption b up to 86% and, most importantly, increases battery lifetime by 2.5 times.
Servato Corp is headed by Christopher Mangum, a former head of corporate strategy at data centre provider CenturyLink. Details of the transaction are confidential, but Mangum told BEST the price was “single-digit millions”.
Seravto Corp did not acquire Encell Technology’s battery manufacturing business. The Alachua, Florida company remains focused on manufacturing nickel-iron batteries for microgrid/energy storage applications.
