Emerald Technology Ventures has secured an exit as O-Flexx is acquired by Mahle for an undisclosed sum.
O-Flexx Technologies, a Germany-based thermoelectrics technology developer, has been acquired by automotive parts manufacturer Mahle.
The transaction provided an exit to Emerald Technology Ventures, a cleantech-focused VC firm that counts Mahle among its limited partners. Financial terms of the acquisition have not been disclosed.
Founded in 2006, O-Flexx produces thermoelectric elements that efficiently convert heat into electrical energy. The technology can be used, for example, to warm the cabin of cars – both electric vehicles and combustion engine cars.
NRW…
