AUBURN HILLS, Mich.,
Aug. 16, 2021 /PRNewswire/
-- BorgWarner, a global product leader in delivering
innovative and sustainable mobility solutions for the vehicle
market, invested in CelLink Corporation, a company that develops
large, high-conductance flexible circuits for the automotive and
energy storage industries.
This Series C equity investment complements BorgWarner's
technology investments as well as its Charging Forward
electrification strategy that was announced during the company's
Investor Day earlier this year. As part of its presentation,
BorgWarner unveiled its goal of having 45% of its total sales
generated from EV technology in 2030 by accelerating its shift
toward electrification. As part of its strategy, the company is
enhancing its focus on technologies as well as partnerships and
investments that support customers as they make the shift to
electrification.
"CelLink's superior circuit technology is well suited for a wide
range of automotive applications, with great potential for battery
packs and next-generation vehicle wiring, and closely aligns with
our Charging Forward strategy," said Harry
Husted, Chief Technology Officer, BorgWarner, Inc. "As one
of our many efforts to realize our electrification goals, we
anticipate this investment will reinforce and complement the
competitive advantage of our products in all major markets and help
fulfill our vision of a clean, energy-efficient world."
CelLink, based in San Carlos,
California, manufactures innovative flexible circuits that
enhance electrical, thermal and mechanical system properties for
batteries and other devices requiring power and data transmission.
CelLink's circuits are lighter, take up less space, are more
electrically and thermally conductive, are more affordable, and are
able to span larger areas than traditional flexible circuits – all
accomplished with zero design-specific tooling. Beyond electric
vehicle battery applications, its circuits enable next-generation
vehicle electronic architectures where high-power and high-speed
data transmission can be combined into a single flexible circuit,
dramatically simplifying vehicle electrical distribution
systems.
"As electrification takes hold in the automotive industry, it is
more important than ever that the industry adopts intelligent
wiring systems that minimize complexity and weight," said
Kevin Coakley, CEO of CelLink. "We
are very pleased to have BorgWarner join as an investor, fortifying
the significant impact our products will have on the future of
electrified transportation."
BorgWarner's investment will support CelLink's next phase of
growth, in which it expects to expand its manufacturing
capacity.
In recent years, BorgWarner has strategically and deliberately
grown its electrification portfolio through investments,
acquisitions and partnerships with companies like CelLink.
BorgWarner became an investor of CelLink on June 11, 2021. To learn more about BorgWarner's
electrification strategy and comprehensive portfolio complete with
hybrid and electric vehicle solutions, visit borgwarner.com.
About BorgWarner
BorgWarner Inc. (NYSE: BWA) is a
global product leader in delivering innovative and sustainable
mobility solutions for the vehicle market. Building on its original
equipment expertise, BorgWarner also brings market leading product
and service solutions to the global aftermarket. With manufacturing
and technical facilities in 96 locations in 23 countries, the
company employs approximately 50,000 people worldwide. For more
information, please visit borgwarner.com.
About CelLink
CelLink, founded in 2012 by Kevin Coakley and Malcolm Brown, and joined in 2015 by
Bruce Graham, manufactures the
world's largest and most electrically and thermally conductive
flexible circuits. The company's products are ideally-suited to
power and signal transmission applications including automotive
wiring, battery packs, LED lighting, photovoltaics, and other
devices. CelLink was originally funded through a 2014 US Department
of Energy Sunshot grant, and has since received a total of
$65M in follow-on funding. Please
visit www.cellinkcircuits.com for more information.
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SOURCE BorgWarner