Johnson Controls Invests in Azure Dynamics

Company agrees to buy 21 million shares representing a 3.4 percent stake.

Published: 10-Jun-2010

A Canadian subsidiary of Johnson Controls Inc., of Glendale, has agreed to buy an equity stake in Azure Dynamics Corp., a Michigan supplier to the hybrid vehicle industry, Azure said in a press release.

Azure said Johnson Controls agreed to buy 21.08 million shares of Azure at a price of 30 cents per share, in Canadian dollars, for gross proceeds of $6.32 million Canadian, or US $6.08 million.

Azure said the investment would give Johnson Controls (NYSE: JCI) a 3.4 percent stake in Azure. Closing is expected around June 15, pending approval of the Toronto Stock Exchange.


Prismatic-type lithium ion cells being tested at new GM Global Battery Test Lab in Warren, MI.

The chemicals maker said it expects the number of electric cars on the road to swell to 4.6 million by 2015.

Coda electric sedan to be powered eventually by US-made lithium batteries.

Last year, Yardney landed a $9 million contract from Lockheed Martin to develop a lithium-ion battery for NASA's new Orion manned spacecraft.

Layers of ReVolt Zinc Air

ReVolt says it solves the recharging problem with Zinc-Air batteries with a bi-functional air electrode


blog comments powered by Disqus