Edinburgh battery technology firm, Dukosi, has announced it has been 100% acquired by California-based investment group, KCK.
Dukosi develops technologies which transform the way advanced batteries are designed, operated and deployed across a range of applications, including electric vehicles, transport and grid energy storage.
Following the acquisition, the company will look to boost global expansion while building on its current Edinburgh activities. The Edinburgh firm works closely with a range of partners, including XALT Energy, Aston Martin, Cosworth and University College London.
Commenting on the deal, Dukosi chief executive Nat Edington said: “The team and I are delighted to announce this exciting development for the company, as we move to bring our groundbreaking technologies to market.
“KCK shares our vision and ambitious plans for the business, and I very much look forward to working with them to ensure Dukosi technology is at the forefront of the next generation of batteries.”
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Dr Nety Krishna, KCK’s head of industrials and emerging technologies group, added: “Dukosi represents a key module for next-generation battery systems. We are looking forward to working with the team to accelerate the development of commercialisation plans to meet the massive market needs.”
KCK invests across a wide range of sectors globally, and take a “long-term view” to building companies which offer solutions to real-world problems and “pain points”.
Dukosi has been supported by IP Group, the Scottish Investment Bank and investors from Par Equity to date. Kerry Sharp, director of the Scottish Investment Bank, said: “We have supported Dukosi for more than seven years, including SIB investment and Scottish Enterprise funding.
“We’re excited to see it enter the next phase in its growth journey as part of KCK and look forward to continuing our already-strong strategic partnership.”