Deere & Co. has received necessarily Austrian regulatory approval to acquire majority ownership in Kreisel Electric, Inc. (“Kreisel”), a battery technology provider based in Rainbach im Mühlkreis, Austria, following the December 2021 announcement the two companies had signed the acquisition agreement. Financial details are not being disclosed.

Kreisel develops high-density, high-durability electric battery modules and packs. Additionally, Kreisel has developed a charging infrastructure platform (CHIMERO) that utilizes this patented battery technology.

Since 2014, Kreisel has been a leading innovator focused on the development of immersion-cooled electric battery modules and packs for high-performance and off-highway applications. The company has a differentiated battery technology and battery-buffered charging infrastructure offering and currently serves a global customer base across multiple end markets, including commercial vehicles, off-highway vehicles, marine, e-motorsports, and other high-performance applications.

John Deere sees demand growing for batteries as a sole- or hybrid-propulsion system for off-highway vehicles. Products in Deere’s portfolio such as turf equipment, compact utility tractors, small tractors, compact construction, and some road building equipment could rely solely on batteries as a primary power source. The majority investment in Kreisel Electric will allow Deere to optimally integrate vehicle and powertrain designs around high-density battery packs while leveraging Kreisel’s charging technology to build out infrastructure required for customer adoption.

“Kreisel’s battery technology can be applied across the broad portfolio of Deere products, and Kreisel’s in-market experience will benefit Deere as we ramp up our battery-electric vehicle portfolio. Deere will provide the expertise, global footprint, and funding to enable Kreisel to continue its fast growth in core markets,” says Pierre Guyot, Senior Vice President, John Deere Power Systems.

Kreisel Electric will retain its employees, brand name, and trademark, and continue to operate from its current location in Austria to serve its growing customer base. The company was founded by brothers Johann, Markus, and Philipp Kreisel, and has approximately 160 full-time employees.