A Canadian company that has been developing batteries for the military for years is selling a $4 billion battery maker.
Stihls is a division of a Swiss conglomerate, the company said Wednesday in a statement.
The Stihlis unit has sold its entire battery production capacity to Swiss company Stihlt, which is seeking to diversify its portfolio.
The company has also taken over production of Stihlia batteries.
Stikl battery maker said it will be the largest battery producer in Canada, surpassing Canada’s largest battery manufacturer, Alstom.
Stichl has been building batteries for over a decade, with an emphasis on battery safety.
The batteries have a range of up to 2,000 kilometres and can run on diesel engines or on hydrogen.
In the last two years, Stichls batteries have been used in a number of military applications, including the US military’s Airborne Laser Destroyer (ALD), the Global Hawk surveillance drone and other surveillance platforms.
It has also been used for surveillance in the Arctic.
Stithl is a subsidiary of Canadian company Stichlis Ltd.
Stigl batteries are made by a Chinese company and have been tested in the US.
They are being used in the Pentagon’s new Joint Strike Fighter, the US Army’s F-35 Lightning II stealth fighter, and the Marine Corps’ C-130J Hercules transport aircraft.
“The company is pleased to be expanding its manufacturing base in Canada,” Stichli said in the statement.
“This acquisition will enhance our ability to meet Canadian and international demand for advanced battery technology for military and security applications.”