The Danfoss Group has acquired Artemis Intelligent Power Ltd, an Edinburgh, Scotland, R&D and engineering company that specializes in hydraulic-system development, Danfoss announced Jan. 14.
Approximately 60 employees will join Danfoss’ Digital Displacement team immediately. The AIP brand will be retired, with all products now branded in the marketplace as Danfoss Digital Displacement.
Neither company disclosed the purchase price or other conditions of the acquisition.
Danfoss had announced the acquisition of the majority shares of AIP in October 2018, at that time creating a joint venture with Mitsubishi Heavy Industries, with Danfoss serving as the majority shareholder. With the acquisition announced on Jan. 14, AIP completely joins the Danfoss Power Solutions organization, Danfoss said in a press release.
In 2018, Danfoss commenced a $30 million (£22 million) project to develop low-carbon, off-highway machinery, a scheme cofunded by the U.K. government’s Advanced Propulsion Centre. Danfoss will announce plans to create a global center of excellence in Edinburgh later this year.
The acquisition is a crucial component of Danfoss’ plans to roll out its innovative Digital Displacement technology worldwide, Danfoss said in a press release. Digital Displacement is a disruptive low-carbon technology with applications in industrial and off-highway markets.
“Digital Displacement . . . radically increases efficiency and lowers fuel consumption wherever hydraulic fluid power is required,” Jeff Herrin, Danfoss’ vice president of R&D, said in the statement. “It has global potential to reduce CO2 emissions in industrial and off-highway machinery. The technology is particularly appealing to customers because it improves efficiency, productivity, and control, plus reduces fuel consumption in sectors that are technically challenging to decarbonize. This is particularly pertinent as this year’s COP26 conference, being held in Scotland, will explore possible routes to a zero-carbon future.
“The last few years have further strengthened our confidence in Digital Displacement, enabling us to produce our first commercial solutions and engage with OEMs in Europe, China, and the U.S. – with feedback being universally positive. The full acquisition of AIP will allow us to accelerate the adoption of Digital Displacement technology in our core industrial and off-highway markets. We’re now looking forward to fast-tracking the commercialization of this technology in a new family of hydraulic solutions,” Herrin said.
“Digitalization is a key driver in our industry,” Eric Bretey, Danfoss’ director of Digital Displacement, said in the press release, “and Digital Displacement strategically fits with our ambition for the sustainable transformation of tomorrow. Digital Displacement technology provides us with a competitive advantage when it comes to developing innovative green products and systems and bringing these to market.
“A core group of AIP directors will now form part of our Digital Displacement leadership team, where their incredible experience and agile mindset will offer continuity to the business,” Bretey said.
For more information, visit www.danfoss.com.