Linamar Corporation has entered into an exclusive manufacturing and licensing agreement with Michigan-based eMatrix Energy Systems, Inc. to gain access to leading modular battery pack technology.
The agreement positions Linamar as the exclusive manufacturing partner of eMatrix’s modular battery packs and grants Linamar exclusive licensing privileges in key markets. With the new partnership and investment, Linamar has taken a meaningful minority equity position in eMatrix ownership. Terms of the investment were not disclosed.
Under the umbrella of Linamar’s recently announced eLIN Product Solutions Group, this initiative is the company’s first expansion into power storage solutions. The deal leverages Linamar’s expertise in manufacturing and supply chain management, as well as existing infrastructure and industry relationships to accelerate and expand the scaling of eMatrix’s product offerings. The transaction will also allow Linamar to participate as both a shareholder and contract manufacturer with this rapidly growing startup.
eMatrix’s modular battery pack systems feature a unique pack design that is easily assembled to scale to customer needs, uses standard battery cells and is controlled with a unique battery management system designed to optimize thermal performance. The resultant system is scalable, flexible, lower cost and drives better efficiency in performance. Linamar says that the modular battery pack systems will provide a highly competitive product offering to customers across Linamar’s mobility and industrial business segments.
Read the full announcement.