John Deere backs battery future

Agricultural equipment heavyweight John Deere is ramping up its push towards a zero-emissions and sustainable future, having recently signed an agreement to purchase a majority stake in battery technology specialist, Kreisel Electric.

Based in Rainbach im Mühlkreis, Austria, Kreisel Electric develops high-density, high-durability electric battery modules and packs, and has also developed its own charging infrastructure platform, which it dubs CHIMERO, to adopt its patented battery technology.

The firm has been developing ‘immersion-cooled’ electric battery modules for off-highway applications since 2014, its technology already used in commercial vehicles, off-highway vehicles, marine, and e-motorsport applications.

John Deere sees demand for battery propulsion systems in off-highway vehicles growing significantly, with potential for the technology to be utilised across a wide range of its products including turf equipment, compact utility tractors, small tractors, compact construction equipment, some road-building equipment and more.

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 the infrastructure customers will require.

“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,” said Pierre Guyot, Senior Vice President, John Deere Power Systems.

“Deere will provide the expertise, global footprint, and funding to enable Kreisel to continue its fast growth in core markets. This is an opportunity to invest in a company with unique technology that’s designed for the demanding conditions where Deere customers work.

“Furthermore, building an electrified portfolio is key to John Deere’s sustainability goal of pursuing new technologies that reduce the environmental impact of new products and work toward zero-emissions propulsion systems on equipment, while increasing our customers’ efficiency and productivity.”

Kreisel Electric will retain its full-time staff of around 160 employees, as well as its brand name and trademark, and will continue to operate from its current location in Austria.

The financial details of the acquisition, which will be finalised shortly pending regulatory approval in Austria, have not been disclosed.