Oakridge Global Energy Solutions has sold all its interest in Swiss battery maker Leclanche to raise money to fund ambitious growth plans.
US-based Oakridge, which agreed a $45 million stake in the Swiss firm in April 2014, said the sale would clear its debts as well as boost growth.
The company, which manufactures lithium-ion cells, batteries and energy storage systems, completed a detailed re-structure in June last year to focus on expanding its service and technology.
It planned to add 230,000 square feet of manufacturing space at its 50,400-square feet plant in Florida, where it has announced it will ramp up production of its large format Pro-Series golf car batteries and small format Patriot Series RC batteries.
