Industrial stored energy specialist EnerSys has completed acquisition of the minority joint-venture interest of a Lithium Technology Corp unit in Nordhausen, Germany.

EnerSys and Lithium subsidiary GAIA Akkumulatorenwerke GmbH formed the joint venture, known as EAS Germany GmbH, in an August 2011 definitive agreement to produce large format lithium-ion battery cells. The venture's licence for Lithium Technology intellectual property was limited to products manufactured within the Nordhausen facility.

EnerSys disclosed the purchase on August 13 without revealing terms.

EnerSys plans to continue development and production of lithium-ion-based systems for space, naval, marine, renewable energy and specialty high-power applications and will continue to supply Lithium Technology with select products for its transportation applications and customers.

At the time of the 2011 agreement, the venture was EnerSys' fourth investment in advanced lithium-based batteries.

Reading-based EnerSys makes and distributes reserve power and motive power batteries, chargers, power equipment and battery accessories worldwide. Publicly traded EnerSys reports profit of USD45.8 million on sales of USD593.9 million for the first fiscal quarter ended July 1.

Lithium Technology is based in Fairfax, Virginia. The GAIA unit and EnerSys established a distribution agreement in 2008.