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Calnetix Technologies Acquires VYCON

Resource from:  Calnetix Technologies Likes:167
Nov 20,2014
CERRITOS, Calif., Nov. 19, 2014 /PRNewswire/ -- Calnetix Technologies, a world leader in developing and manufacturing high-speed permanent magnet motor generators, power electronics and magnetic bearings for a variety of applications and industries, announced today that it acquired VYCON for an undisclosed amount. The company, which will operate as a wholly owned subsidiary of Calnetix, will work with original equipment manufacturers (OEMs) to expand the reach of its flywheel products and to identify new applications for its technology. "We've had a very close relationship with VYCON for more than a decade," said Calnetix Technologies' Vice President of Business Development Herman Artinian. "The demand for reliable, clean energy storage and recycling solutions in a wide range of markets – including mission critical back-up, transportation, general industry, micro grids and others – was a key factor in our decision to acquire VYCON." Through applications, such as its recent LA Metro installation, VYCON has proven that flywheels outperform batteries or supercapacitors, where higher reliability and frequent energy discharge/recharge cycling is required. "The acquisition is a natural evolution for both companies, said VYCON's President Frank DeLattre. "Calnetix's core products have been long-standing integral components in our state-of-the-art flywheel systems, and their OEM focused business model will help ensure an even higher level of collaboration with our OEM distribution partners, leading to higher market adoption." VYCON's management team and staff will remain intact.
(Calnetix Technologies)
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