Lithium Werks Established
To enable the energy transition from fossil fuels to clean renewables, such as solar and wind power.
Sold Modular Business Unit
Lithium Werks sold its Valence module and BMS assets to Lithion Power Group
Lithium Werks was established in 2017, to enable the energy transition from fossil fuels to clean renewables, such as solar and wind power.
Founded by battery veteran Joseph T. Fisher II and entrepreneur Christian F. P. Ringvold, the goal was to create a sustainable, modern life by providing safe, reliable and mobile energy solutions. Realizing the growth potential in the lithium iron phosphate (LFP) market, due to its outstanding performance, safety, and cycle life; the pair set out to bring industry expertise and the right technology together.
By the end of 2017, Fisher and Ringvold had not only built a powerful team of experts but also secured investment, readying it for a year of rapid expansion. In February 2018, Lithium Werks acquired Valence Technology, followed by the acquisition of the industrial division of A123 in March. The deals ensured a stable supply of battery cells from a 100% owned factory in China, for its module production facilities in the US and China, as well as ownership and licenses to more than 400 patents covering both existing lithium iron phosphate (LFP) battery, as well as high voltage battery materials for potential future battery breakthroughs.
Armed with substantial intellectual property and trademarks, Lithium Werks proceeded with the ever-closer integration of Dutch battery module producer Super-B, which had been a long-standing customer of A123. Super-B was a Lithium Werks subsidiary from September 2018 to January 2019, before being divested so it could focus on specific areas in the energy storage market. The two companies retain a close relationship.
By the autumn of 2018, Lithium Werks had established offices in The Netherlands, The United Kingdom, Norway, the USA, and China. Lithium Werks provides cells, modules, and energy management systems to markets such as industrial, transportation, marine and clean energy storage.
By the end of 2018, Lithium Werks was supplying more than 200 customers in 50 countries, having delivered more than 200 million battery cells to date. Creating a foundation for rapid expansion backed by further strategic alliances, acquisitions, and organic growth.
In 2020, Lithium Werks sold its Valence™ module and BMS assets to Lithion Power Group, a vertically integrated manufacturer of cells and rechargeable and non-rechargeable battery packs. As a result of the sale Lithium Werks will concentrate intensely on continuing to develop its “Best in Class” Nanophosphate™ materials, cell production, custom OEM solutions, increasing R&D, and further expanding and strengthening its Lithium Iron Phosphate (LFP) cathode patent portfolio.
Rapidly growing demand exists for Lithium Werks exclusive technologies from diverse industry sectors on a global basis. The transaction will facilitate Lithium Werks’ continued focus on meeting this demand.