NEWS RELEASE February 08, 2022
John Deere Acquires Majority Ownership in Kreisel Electric
MOLINE, Illinois (February 8, 2022) — Deere & Company (NYSE: DE) has acquired majority ownership in Kreisel Electric Inc., a leading pioneer 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 (www.Kreiselelectric.com) 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.
About Deere & Company
Deere & Company (www.JohnDeere.com) is a world leader in providing advanced products, technology and services for customers whose work is revolutionizing agriculture and construction — those who cultivate, harvest, transform, enrich and build upon the land to meet the world's increasing need for food, fuel, shelter and infrastructure.
For Media Inquiries, Contact:
Dan Bernick
Public Relations Manager
BernickDanielG@JohnDeere.com