Energy storage system provider Dynapower has been acquired by Sensata Technologies for $580 million. Sensata and Dynapower expect to complete the transaction early in the third quarter of 2022.
Dynapower provides energy storage and power conversion systems including inverters, converters, rectifiers and custom transformers for renewable energy generation, green hydrogen production, electric vehicle charging stations and microgrid applications, as well as industrial and defense applications. Dynapower also provides aftermarket sales and service to maintain and monitor an installed base of equipment at customer locations.
The acquisition of Dynapower is a foundational addition to Sensata’s Clean Energy Solutions strategy and complements Sensata’s recent acquisitions of Gigavac, Lithium Balance and Spear Power Systems.
“We are very pleased to bring Dynapower’s leading energy storage and power conversion solutions into Sensata’s portfolio through this acquisition,” said Jeff Cote, CEO and President of Sensata Technologies. “Dynapower enables us to deliver highly engineered, mission-critical power conversion systems to fast growing renewable energy storage, industrial and defense customers and help drive our Electrification growth vector.”
“My entire leadership team and I are very excited about joining forces with Sensata, leveraging their global resources to further scale our great business and accelerate the transition to green energy,” said Adam Knudsen, Dynapower’s CEO.
News item from Sensata