Tuesday, March 27, 2012

PowerGenix In Technology Licensing Deal With EnerSys

San Diego-based PowerGenix, which is developing a Nickel-Zinc battery used for hybrid electric vehicles and other applications, said Tuesday that it has signed a licensing and product development agreement with EnerSys. Financial details of the deal were not disclosed. According to the firms, EnerSys has selected batteries developed by PowerGenix for inclusion in its product line and global sales channels. EnerSys is a large, publicly held manufacturer of power systems used for power equipment, forklifts, and other commercial electric vehicles. The two said that the deal comes after a year of intense testing by EnerSys to qualify the PowerGenix batteries. EnerSys is the largest industrial battery manufacturer in the world, with around $2.24 billion in revenue.