American Battery Solutions Inc. has completed the acquisition of high-voltage manufacturing and testing assets from Robert Bosch Battery Systems, which was previously announced. With the transaction completed, the 170,000-square-foot battery systems manufacturing facility and production lines in Springboro, Ohio, are now wholly owned by ABS. The key manufacturing personnel from the plant have also joined ABS as its employees.
The Lake Orion, Michigan, company is backed by a $50 million committed investment from KCK Group, a principal investment firm with global offices in London, New York, San Francisco and Dubai.
ABS is already in discussions with several potential customers to develop, test and manufacture modular battery solutions for underserved transportation, industrial and commercial markets, primarily in North American and Europe.
The company is founded by KCK Group and Chairman and CEO Subhash Dhar, a longtime innovator and industry leader in the development and commercialization of energy storage.