Endurance Technologies Limited acquired energy tech startup Maxwell Energy Systems for $40 million


Automotive component manufacturer Endurance Technologies Limited acquired energy tech startup ION Energy's advance electronics business unit Maxwell Energy Systems (MESPL) for $40 million.


ION Energy is a cleantech OEM startup backed by investors such as Amazon's Climate Pledge Fund, Climate Capital, and YourNest. Endurance will purchase a 51% stake in Maxwell for $17.5 million (INR 135 crore) through a combination of primary investment and secondary purchase as part of the transaction. The remaining 49% will be acquired in stages over the next five years.

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