General Motors announced the acquisition of ALGOLiON, a company specializing in battery software for electric vehicles (EVs). The financial terms were not disclosed. The acquisition was led by the newly formed Technology Acceleration and Commercialization (TAC) organization, a group within GM that works to identify emerging technology that can support GM in battery development through investments, acquisitions, or partnerships.
ALGOLiON was founded in 2014 by Niles Fleischer, Ph.D., and Alex Nimberger, Ph.D., with the support of the Israeli Innovation Authority. The company has developed a software solution that uses data streams from EV battery management systems to monitor and analyze cell performance, health, and safety. According to the company, their software can detect anomalies and potential hazards, such as thermal runaway propagation events, weeks earlier than other current methods, without requiring additional hardware or sensors. This can help improve vehicle reliability, performance, and safety, extend battery life and reduce costs.
“ALGOLiON has developed cutting edge battery analytics and prediction software that will help General Motors deliver great performing EVs for our customers,” said Gil Golan, vice president, TAC.
The acquisition of ALGOLiON is part of GM’s strategy to accelerate its transition to an all-electric future, as the company plans to launch 30 new EVs globally by 2025.
GM has also partnered with LG Energy Solution to build two new battery cell plants in the U.S. and with SolidEnergy Systems to develop next-generation lithium metal batteries.
ALGOLiON’s employees, including the founders, will join GM’s Technical Center in Herzliya, Israel, where they will work under Guy Daniely, senior engineering manager. The GM Israel center is part of GM’s Global Product Development Group, focusing on advanced technologies such as software and algorithms, machine learning, Software Defined Vehicles, cyber security, and user-facing applications for autonomous, electric, and connected vehicles.
According to Mercom’s Q1 2023 Funding and M&A Report for Storage and Smart Grid, Four M&A transactions were recorded in Energy Storage in Q1 2023. In Q4 2022, there were five M&A transactions. YoY, there were five Energy Storage M&A transactions in Q1 2022.
