Eaton acquires Royal Power Solutions for $600 M
Ireland, Dublin: Power management company Eaton has acquired a US-based firm that produces components for the electric vehicle sector.
Dublin-based Eaton has announced the $600 M purchase of Royal Power Solutions, a manufacturer of high-precision electrical connectivity components used in electric vehicle, energy management, industrial and mobility markets. Eaton said the purchase will allow its eMobility group to expand in the emerging EV sector.
Eaton Vehicle Group President João Faria said in a press release that Royal Power’s line-up of electrical components was especially important.
“This company has demonstrated big growth in the last nine years or so, growing in a huge number and bringing significant technologies and innovations the market is using today for new applications,” Faria said.
Royal Power Solutions has 450 employees and manufacturing facilities in its hometown as well as in Queretaro, Mexico, along with an engineering and sales office in Canton, Michigan, USA.
Recently, Eaton announced a $4.9 M award from the US Department of Energy for development of solutions to reduce the cost and complexity of deploying direct current (DC) fast electric vehicle charging infrastructure (EVCI).
To support its EVCI solution, Eaton noted it will develop a unique solid-state transformer design and modular chargers packaged on a compact skid — expediting installation, reducing required equipment, and minimizing deployment cost and footprint. The Eaton solid-state transformer technology will enable direct connection to the utility medium-voltage distribution system to eliminate the need for additional power conversion devices and associated commissioning.
Source: Transport Topics