Yanmar Acquires Battery Technology Company ELEO

By integrating ELEO’s advanced, scalable, and modular battery technology, Yanmar will further its electrified powertrain capabilities for off-road applications. ELEO claims superior energy density suitable for various marine applications, e.g. sloops, yachts, ferries, and supply vessels. The modules are easily scalable in any orientation and direction to reach the desired voltage, capacity, and dimensions.

“Yanmar is committed to delivering electric powertrain solutions that enable our customers to adopt zero-emission technology without compromising on productivity,” said Tomohisa Tao, President of Yanmar Power Technology. “The investment in ELEO gives us the opportunity to adopt highly innovative technology that has been engineered for the tough conditions in which our end-users work. We look forward to working with the ELEO team on their progressive product roadmap and utilizing our experience, expertise and global presence to support them in their exciting growth path, towards the realization of a sustainable future.”

ELEO will open a new production facility later this year. In the new facility, the annual battery production capacity increases tenfold to 500MWh – equivalent of approximately 10,000 battery packs.

“We are thrilled to partner with Yanmar,” said ELEO co-founder Bas Verkaik. “Yanmar’s leading position, premium brand reputation, global network and decades-long experience in off-road applications and ELEO’s advanced modular battery systems are a perfect match to accelerate the adoption of electrified powertrain solutions worldwide.”

After joining the Yanmar Group as part of Yanmar Power Technology, ELEO will continue to operate as a stand-alone entity under its own brand at its current location in Helmond, the Netherlands. ELEO’s founders Bas Verkaik, Jeroen Bleker and Bram van Diggelen, will maintain their focus on further strengthening the company’s technology and accelerating business growth. The founders will be joined by key executives from Yanmar to form the company’s management board.