Synergies, Industry Demand Key Factors in Strategic Move
Cerritos, California – November 19, 2014 – Calnetix Technologies, a world leader in developing and manufacturing high-speed permanent magnet motor generators, power electronics and magnetic bearings for a variety of applications and industries, announced today that it acquired VYCON for an undisclosed amount.
The company, which will operate as a wholly owned subsidiary of Calnetix, will work with original equipment manufacturers (OEMs) to expand the reach of its flywheel products and to identify new applications for its technology.
“We’ve had a very close relationship with VYCON for more than a decade,” said Calnetix Technologies’ Vice President of Business Development Herman Artinian. “The demand for reliable, clean energy storage and recycling solutions in a wide range of markets – including mission critical back-up, transportation, general industry, micro grids and others – was a key factor in our decision to acquire VYCON.”
Through applications, such as its recent LA Metro installation, VYCON has proven that flywheels outperform batteries or supercapacitors, where higher reliability and frequent energy discharge/recharge cycling is required.
“The acquisition is a natural evolution for both companies, said VYCON’s President Frank DeLattre. “Calnetix’s core products have been long-standing integral components in our state-of-the-art flywheel systems, and their OEM focused business model will help ensure an even higher level of collaboration with our OEM distribution partners, leading to higher market adoption.”
VYCON’s management team and staff will remain intact.
About Calnetix Technologies
Calnetix Technologies, LLC (“Calnetix”), headquartered in Cerritos, CA, is focused on Innovation That Drives Industries™. The company specializes in high-performance, high-speed motor generators and best-in-class advanced magnetic bearings and control systems. Calnetix’s patented, underlying technologies, which have been in use since the company’s inception in 1998, have made Calnetix a world leader in the design and production of high-speed machines. The company’s overall technology portfolio and system integration capabilities have led to development and production contracts with industry leaders and the start of many successful subsidiaries that focus on unique niche markets. For more information, please visit www.calnetix.com.
Headquartered in Los Angeles, Calif., VYCON is an innovator in the design and manufacturing of technologically advanced energy storage systems that enable a highly reliable, cost-effective and green energy storage solution for a variety of applications. VYCON’s products are applied in the power quality markets to provide back-up power in mission-critical applications and in the energy re-cycling markets for capturing and regenerating energy in, electric rail, crane and distributed generation applications. For more information on VYCON’s innovative green power solutions, contact VYCON at email@example.com or visit VYCON’s web site at www.vyconenergy.com.