Active Power (NASDAQ: ACPW) has signed an Asset Purchase Agreement (APA) with Langley Holdings PLC in which Langley will acquire the assets and operations of the flywheel energy storage products and modular infrastructure solutions (MIS) manufacturer. Langley is a UK-based, privately owned engineering and industrial group with principal operating divisions located in Germany and France and more than 80 subsidiaries worldwide. The addition of Active Power’s flywheel UPS technology to its portfolio is expected to strengthen Langley’s market position and create more compelling alternatives to traditional UPS offerings for mission critical applications.” Langley says it plans to keep Active Power’s manufacturing in Austin, thereby expanding its own footprint in the United States. The APA is expected to close in Q4 2016.
To view the full press release, visit: http://nnw.fm/4eLwZ
About Active Power
Active Power (NASDAQ: ACPW) designs and manufactures flywheel uninterruptible power supply (UPS) systems, modular infrastructure solutions (MIS), and energy storage products for mission critical and renewable applications worldwide. The company’s products deliver 40 percent lower total cost of ownership, are proven 12 times less likely to fail and produce nine times less carbon emissions that conventional UPS products.. Customers are served via Austin and three regional operations centers located in the United Kingdom, Germany and China, that support the deployment of systems in more than 50 countries. For more information, visit www.activepower.com
NetworkNewsBreak is a rapid summary of a press release that caught the attention of NetworkNewsWire (NNW). NNW provides news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of journalists and writers, NNW is uniquely positioned to best serve private and public companies who need to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing network of more than 5,000 key distribution outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge. For more information, visit https://www.networknewswire.com.
Please see full disclaimers on the NetworkNewsWire website: http://nnw.fm/Disclaimer