Strategic investment supports advanced AI
software for rapid production testing of batteries
ST.
LOUIS, Nov. 19, 2024 /PRNewswire/ -- Emerson
(NYSE: EMR) today announced it has made a strategic investment
through its corporate venture capital arm Emerson Ventures
in EECOMOBILITY, a startup that specializes in advanced
battery testing and monitoring software for electric vehicle,
energy storage and industrial markets.
EECOMOBILITY builds AI software, rapid battery testing and
characterization systems designed to identify defects that may lead
to fires or performance issues. Combining advanced characterization
techniques and AI, EECOMOBILITY's solutions portfolio can be
applied at the cell, module or full battery pack level, making the
company a key asset in the automotive sector.
"EECOMOBILITY's AI-driven software for fault detection and
battery testing aligns with Emerson's acquisition of NI and growing
leadership in test and measurement technologies and expertise
across the automotive sector," said Thurston Cromwell, head of Emerson Ventures and
vice president of development and innovation at Emerson. "Our
experience in high-volume battery production testing will help
accelerate EECOMOBILITY's product development and market reach,
especially in the automotive, energy storage and industrial
technology sectors."
EECOMOBILITY specializes in AI and offers platform-agnostic
software that supports both standalone applications and seamless
integration into customer solutions, regardless of cloud or
hardware infrastructure. The software features rigorously tested,
self-learning technology to ensure high speed, accurate results,
easy customization and rapid deployment.
"With this investment from Emerson Ventures and anticipated
collaboration with Emerson's Test
and Measurement business, EECOMOBILITY will be better positioned to
transform transportation electrification," said Dr. Saeid Habibi, chief executive officer of
EECOMOBILITY. "Given Emerson's leadership in automation and
commitment to sustainability, we are confident their support will
help us expand the development and applications of our
EECOPower technology, enable strategic partnerships and
accelerate our growth."
Emerson Ventures will co-invest with Automotive Ventures, RISC
Capital and a North American OEM (original equipment
manufacturer).
About Emerson
Emerson (NYSE: EMR) is a global technology and
software company providing innovative solutions for the world's
essential industries. Through its leading automation portfolio,
including its majority stake in AspenTech, Emerson helps hybrid, process and discrete
manufacturers optimize operations, protect personnel, reduce
emissions and achieve their sustainability goals. For more
information, visit Emerson.com.
About EECOMOBILITY
EECOMOBILITY is a startup from
McMaster University's Centre for
Mechatronics and Hybrid Technology, specializing in Artificial
Intelligence (AI). EECOMOBILITY has developed advanced testing and
monitoring software tailored for the automotive, energy storage,
industrial and manufacturing sectors.
Their flagship product line, EECOPower, offers rapid battery
cell and module testing and characterization systems designed for
lithium-ion battery pack production. These systems are
transformative for the automotive industry, capable of detecting
defective batteries that can cause fires and performance issues.
EECOPower utilizes advanced characterization techniques combined
with AI, applicable to battery cells, modules and packs. For more
information, visit EECOMOBILITY.
Forward-Looking and Cautionary Statements
Statements
in this press release that are not strictly historical may be
"forward-looking" statements, which involve risks and
uncertainties, and Emerson
undertakes no obligation to update any such statements to reflect
later developments. These risks and uncertainties include the
scope, duration and ultimate impacts of the Russia-Ukraine and other global conflicts, as well as
economic and currency conditions, market demand, pricing,
protection of intellectual property, cybersecurity, tariffs,
competitive and technological factors, inflation, among others, as
set forth in the Company's most recent Annual Report on Form 10-K
and subsequent reports filed with the SEC.
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SOURCE Emerson