Martinrea International a diversified and global automotive supplier engaged in the design, development and manufacturing of highly engineered, value-added Lightweight Structures and Propulsion Systems, announced the acquisition of the assets of Montreal-based Effenco Development Inc., which were acquired in 2022.
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Effenco is an award-winning Green-Tech business that designs, manufactures and markets technologies for the electrification and connectivity of heavy duty vocational trucks.
The Effenco Hybrid Electric solution augments the vehicle’s powertrain and electrifies the onboard equipment utilizing a unique ultracapacitor-based technology. The technology creates value by helping to reduce greenhouse gas emissions, engine usage hours, fuel consumption, noise pollution, and related maintenance.
Supporting Effenco’s development activities is its real-time vehicle operations database, helping to ensure reliable performance for various applications and equipment. In addition, having collected over 1 million hours of real-world operating data, combined with its proprietary artificial intelligence algorithms, Effenco is well positioned to pursue its path in heavy-duty electrification.
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Effenco is a Global Cleantech 100 company, and a global technology leader in the innovative use of ultracapacitors where alternative electrification solutions do not meet the requirements for heavy duty applications. Effenco is also a winner of the “Solar Impulse Efficient Solution” Label supporting fast-track implementation of environmental solutions.
“We are very pleased with this acquisition,” said Pat D’Eramo, President and CEO, Martinrea International Inc. “Effenco aligns with our vision, mission, and corporate strategy and, with Martinrea’s manufacturing and supply chain expertise, we expect to be able to grow the business and bring further value to our customers. We welcome the members of the Effenco team to our Martinrea family.”
“This acquisition will further align with Martinrea’s sustainability and innovation initiatives,” said Rob Wildeboer, Executive Chairman. “We see many opportunities in the electrification space, and leveraging our MiND (Martinrea Innovation Development) initiative, we have investments in graphene and graphene-enhanced batteries, aluminum air batteries, and heavy-duty electrification solutions. Our global manufacturing capabilities are crucial to the success of these initiatives.”
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