March 17, 2022 – Deere & Company has acquired majority ownership in Kreisel Electric Inc., a battery technology provider based in Rainbach im Mühlkreis, Austria.

“Kreisel’s battery technology can be applied across the broad portfolio of Deere products, and Kreisel’s in-market experience will benefit Deere as we ramp up our battery-electric vehicle portfolio,” said Pierre Guyot, senior vice-president, John Deere Power Systems. “This is an opportunity to invest in a company with unique technology that’s designed for the demanding conditions where Deere customers work.”

Founded by brothers Johann, Markus and Philipp Kreisel, the company develops high-density, high-durability electric battery modules and packs, and has also developed a charging infrastructure platform (Chimero) that employs its patented technology.

Kriesel Electric’s Chimero high-power charger and electrical energy storage. Photo: Kreisel Electric.

“Furthermore, building an electrified portfolio is key to John Deere’s sustainability goal of pursuing new technologies that reduce the environmental impact of new products and work toward zero emissions propulsion systems on equipment, while increasing our customers’ efficiency and productivity,” Guyot added.

John Deere sees demand growing for batteries as a sole- or hybrid-propulsion system for off-highway vehicles. “Products in Deere’s portfolio such as turf equipment, compact utility tractors, small tractors, compact construction, and some road-building equipment could rely solely on batteries as a primary power source.”

The majority investment in Kreisel will allow Deere to integrate vehicle and powertrain designs around high-density battery packs while leveraging Kreisel’s charging technology to build out the infrastructure required for customer adoption.

Kreisel Electric will retain its roughly 160 full-time employees, brand name and trademark, and continue to operate from its current location.