MACON, Ga.--(BUSINESS WIRE)--Premergy, Inc., a U.S. vehicle and energy technology development company, today announced that the Company is exploring strategic alternatives, which may include a potential sale of the intellectual property associated with its electric vehicle battery management and optimization system. The Company has retained Stephens Inc., a leading investment bank, to help evaluate options for shareholders.
Premergy’s patent-protected battery management and control technology is configurable with any battery electric vehicle and is proven to increase vehicle range by more than 20% while also moderating battery heat. The decision to explore the sale of the technology and the associated patents comes on the heels of recent design and development achievements and inbound interest from parties looking to integrate and commercialize the technology.
According to chief engineer and co-founder Richard Botts, “Cost effectively increasing vehicle range and managing battery heat and stress are key hurdles facing the electric vehicle marketplace. Premergy’s technology is proven to address both issues and can do so across vehicle classes with minimal weight or volume impact to the vehicle. Our engineering efforts and the years of development and real-world testing of the technology have brought us to an exciting point for our organization. We look forward to exploring opportunities for our company and further positioning this technology to play an important role in the continued advancement of the global electric vehicle marketplace.”
Co-founders Richard Botts and Lanier Davenport collaboratively founded Macon, Georgia-based Premergy, Inc. in 2015. Since inception, the founders and Premergy’s expert engineering team have developed an extensive portfolio of energy management technology and secured the intellectual property for its eventual commercialization. Additional information can be found on the Premergy website (www.premergy.com).