John Deere Acquires Majority Ownership in Kreisel Electric

MOLINE, Illinois (February 8, 2022) — Deere & Company (NYSE: DE) has acquired majority ownership in Kreisel Electric Inc., a leading pioneer in the development of immersion-cooled battery technology. The Austrian company manufactures high-density, high-durability electric battery modules and packs for high-performance and off-highway applications and has created a battery-buffered, high-powered charging infrastructure platform (CHIMERO).

This transaction was announced in December 2021 and is now complete, following regulatory approval.

Kreisel Electric ( is based in Rainbach im Mühlkreis, Austria. The company was founded in 2014 and has approximately 180 full-time employees. The business will retain its brand name and trademark.