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John Deere acquires majority stake in Kreisel Electric

MOLINE — Deere & Company has acquired majority ownership in Kreisel Electric Inc., a company involved in the development of immersion-cooled battery technology. The Austrian company manufactures high-density, high-durability electric battery modules and packs for high-performance and off-highway applications and has created a battery-buffered, high-powered charging infrastructure platform (CHIMERO).

This transaction was announced in December 2021 and is now complete, following regulatory approval.

Kreisel Electric is based in Rainbach im Mühlkreis, Austria. The company was founded in 2014 and has approximately 180 full-time employees. The business will retain its brand name and trademark.

Deere & Company is a global manufacturer of advanced products, technology, and services for customers whose work is involved in agriculture and construction.