HENDERSON, Nev., WICHITA, Kan. and CALGARY, AB, June 29, 2021 /PRNewswire/ -- Lithion Battery Inc. ("Lithion" or the "Company") announced today that the Company has completed a transaction with Koch Strategic Platforms ("KSP"). KSP is providing the Company with growth capital, becoming a strategic minority investment partner in Lithion. TriWest Capital Partners ("TriWest"), a leading Canadian based private equity fund, remains as the majority equity holder.
Lithion is a vertically integrated manufacturer of battery cells and rechargeable and non-rechargeable battery modules and packs serving industrial, medical, robotic, military / defense and energy end-markets. Lithion works closely with original equipment manufacturers and end users to provide custom and high-quality power solutions for critical applications where reliability is paramount.
"Lithion has assembled the building blocks to effectively execute on our strategy to bring reliable domestic manufactured cells and battery modules to market providing electrification solutions for numerous products in a variety of end markets," said Tyler Armstrong, President & CEO of Lithion. "Securing KSP as an investment partner will accelerate the implementation of our growth initiatives and strengthen Lithion's position as the reliable supplier of cells and battery modules for our customers."
"Over the past year, Management at Lithion has significantly advanced the Company's value creation strategy and we are excited to partner with KSP to further accelerate Lithion's growth plan" said Jeff Belford, Senior Managing Director at TriWest. "Lithion's approach to providing leading cell and battery module solutions for customers, along with ensuring reliability of supply will provide customers with the electrification solutions demanded in the marketplace today. KSP's strategic support will accelerate the continued build-out of the Company's products and facilities".
KSP, founded as part of Koch Industries' investment arm, Koch Investments Group, focuses on growth equity through four thematic sectors—computing and connectivity, industrial automation, health care, and energy transformation. KSP moves beyond capital investment by leveraging the resources and capabilities of Koch Industries to accelerate growth for companies in which it invests while seeking opportunities for new platforms within Koch.
"We believe Lithion's customizable cell and battery module solutions will be a game changer for industry seeking electrification technology beyond the 'one size fits all' approach. KSP is excited to partner with Lithion and help accelerate their delivery to market," said Jeremy Bezdek, Managing Director for Koch Strategic Platforms.
About Lithion Battery
Lithion is a vertically integrated manufacturer of cells and rechargeable and non-rechargeable battery modules and packs serving the industrial, medical, robotic, military / defense and energy end-markets. Lithion works closely with original equipment manufacturers and end users to provide high-quality power solutions for critical applications where reliability is paramount. Working closely with customers while producing Lithium Iron Phosphate and other lithium-ion cells and battery modules and packs out of Lithion's North American based manufacturing operations, allows the Company to reliably deliver product to customers - products which are controlled by highly customizable battery management systems. Highly differentiated product coupled with reliable supply allows Lithion to provide the electrification solutions customers require. For more information, visit https://www.lithionbattery.com/
About Koch Strategic Platforms
With offices in Atlanta and Wichita, KSP desires to be the preferred investment partner of growth focused, strategic companies who are innovating in industries with disruptive potential. Created in 2020, the KSP team pursues public and private investments with companies where long-term mutual benefit can be realized. https://www.kochind.com/
About TriWest Capital Partners
Founded in 1998 and based in Calgary, Alberta, TriWest is one of Canada's leading private equity firms, having raised over C$1.4 billion in committed capital through six funds. TriWest has successfully invested in 44 companies across a broad cross-section of the economy in partnership with their management teams. We work closely with our management partners, together proactively putting in place a strategy that maximizes growth potential and value creation by emphasizing operational excellence, prudent governance, and an efficient capital structure. The principals of TriWest have significant operational and financial expertise, making us effective partners in creating shareholder value. For more information about TriWest, visit https://triwest.ca/
Lithion Power Group | Marketing Manager
SOURCE Lithion Power Group