Last year, the Dutch startup Lithium Werks secured an amount of $1.3 billion to provide wholesome energy storage solutions.
For the starters, Lithium Werks provides cells, modules and energy management systems to industrial, transportation, marine and clean energy storage markets.
With the humongous funding, Lithium Werks made a grand plan under the leadership of CEO Kees Koolen — who was also the former CEO of Booking.com — to establish a huge factory with a production capacity of 8-gigawatt hours per year.
Located in Hengelo in the Netherlands, Lithium Werks employs around 550 people with offices in the United States, China and warehousing facilities in the Netherlands, the US, the UK and Norway.
Things took a turn for the worse!
In a recent development, Kees Koolen has stepped down as the chairman of Lithium Werks. Nonetheless, Koolen remains as chairman of ‘Super B‘ in Hengelo, which focuses on batteries and new technologies for ‘smart energy’.
Rapid growth is the reason!
Koolen decided to step down as a result of the rapid growth of Lithium Werks, where he feels more focus is needed, and also because Chinese investors insist on relocating the head office of Lithium Werks.
This split will indeed enable the company to respond more rapidly to the enormous growth that it is experiencing.
Super B focuses on smart clean energy storage, electrification and more!
Notably, Super B was formerly owned by Koolen. Though he sold his company to Lithium Werks, Koolen now bought it back and accommodated it in Koolen Industries. Right now, Super B employs around sixty people mostly technical engineers. Having said that, the Dutch company also holds a minority interest in Lithium Werks.
No significant investment from the Dutch!
According to Koolen, several investors claimed the head office would leave the Netherlands since no significant investor had reported from the Netherlands.
There are talks that the headquarters of Lithium Werks might be moved to Asia, where the company will invest €1.6 billion with Chinese partners in a new lithium-ion battery plant in China.
Business campus on hold!
On the other hand, the business campus at the University of Twente, which was announced last year by Lithium Werks, is not coming anytime soon. A campus with R & D for clean energy next to the University of Twente is on hold.
Lithium Werks reported in September that 100 million euros had already been invested in it. Construction would start in early 2019.
Joseph Fisher – New chairman of the board!
In another update, T. Joseph Fisher III has been appointed as chairman of the board for Lithium Werks. Primarily, Fisher worked as chief executive since he co-founded the company in 2017, and he is a 30-year veteran in the battery industry a well.
Will respond to soaring demand!
Joseph Fisher, chairman of Lithium Werks said:
We are committed to playing a leading role in society’s energy transition to renewables such as solar and wind and our strategy remains unchanged. Our expertise in safe, reliable, clean and sustainable energy storage solutions engendered dramatic growth in 2018.
As we enter 2019, we expect to expand further in response to soaring demand through both organic growth and further acquisitions, including our future factory plans in China with our local partners.
Stay tuned to Silicon Canals for more updates in the tech startup world.
Did you know you can post your job for free on our job board? If you require extra promotion, reach out to [email protected] for a discounted offer.
01
No early-stage VCs, no economy: Cottonwood’s Alain le Loux on Fund IV, early-stage deep tech startups, science IP-based innovation