a+f GmbH, a Wurzburg, Germany-based subsidiary of Gildemeister, plans to acquire a majority holding (50.001%) in Eisenstadt, Austria-based Cellstrom GmbH.
As part of the transaction, a+f is also acquiring a 5% holding in Cellstrom's parent company, Younicos AG, based in Berlin. Through this acquisition, qa+f says it is paving the way for its entry into the promising future market of energy storage through the use of Cellstrom's large battery, which is based on vanadium redox flow technology and achieves constant power supply from solar and wind installations, according to a+f.
SOURCE: a+f GmbH
