Miba acquires majority stake in battery specialist Voltlabor
May 25, 2022
Miba AG, Laakirchen, Austria, reports that it has acquired a majority stake in Voltlabor, a battery specialist based in Mühlviertel, Austria. Miba has held a stake in the company since 2019.
Voltlabor develops and produces battery systems for a range of end-use applications including electric cars, motorcycles, buses and boats. It also incorporates the Miba FLEXcooler, a temperature management system, into its battery systems.
“The acquisition of a majority stake in Voltlabor is an important milestone in the implementation of our corporate strategy ‘Miba 100’,” stated F Peter Mitterbauer, CEO of Miba. “Driven by our corporate mission ‘Technologies for a cleaner planet’, we want to grow to sales of €1.5 billion by 2027 with technologies for end applications for the efficient generation, transmission, storage and use of energy. Batteries as storage media for energy are an important pillar in this context and an optimal addition to the Miba product portfolio.”
Miba states that Voltlabor has grown strongly since the company acquired its initial stake three years ago and this growth is expected to be further accelerated under the new company name, Miba Battery Systems. Austria’s technologically leading battery production plant, VOLTfactory #1, is currently being built in Bad Leonfelden. Due to market demand, worldwide expansion and the establishment of additional VOLTfactory sites are also planned.
Johannes Kaar founded Voltlabor with Edmund Jenner-Braunschmied and Martin Reingruber, and brought Miba on board as a shareholder in 2019. Kaar commented, “With Miba, we chose the right partner for Voltlabor’s growth three years ago. Their global market access, innovative spirit and industrial know-how have made our joint path to success possible in the first place.”
