BorgWarner Invests in CelLink, Expanding Electrification Efforts

AUBURN HILLS, Mich., Aug. 16, 2021 /PRNewswire/ -- BorgWarner, a global product leader in delivering innovative and sustainable mobility solutions for the vehicle market, invested in CelLink Corporation, a company that develops large, high-conductance flexible circuits for the automotive and energy storage industries.

This Series C equity investment complements BorgWarner's technology investments as well as its Charging Forward electrification strategy that was announced during the company's Investor Day earlier this year. As part of its presentation, BorgWarner unveiled its goal of having 45% of its total sales generated from EV technology in 2030 by accelerating its shift toward electrification. As part of its strategy, the company is enhancing its focus on technologies as well as partnerships and investments that support customers as they make the shift to electrification.

"CelLink's superior circuit technology is well suited for a wide range of automotive applications, with great potential for battery packs and next-generation vehicle wiring, and closely aligns with our Charging Forward strategy," said Harry Husted, Chief Technology Officer, BorgWarner, Inc. "As one of our many efforts to realize our electrification goals, we anticipate this investment will reinforce and complement the competitive advantage of our products in all major markets and help fulfill our vision of a clean, energy-efficient world."

CelLink, based in San Carlos, California, manufactures innovative flexible circuits that enhance electrical, thermal and mechanical system properties for batteries and other devices requiring power and data transmission. CelLink's circuits are lighter, take up less space, are more electrically and thermally conductive, are more affordable, and are able to span larger areas than traditional flexible circuits – all accomplished with zero design-specific tooling. Beyond electric vehicle battery applications, its circuits enable next-generation vehicle electronic architectures where high-power and high-speed data transmission can be combined into a single flexible circuit, dramatically simplifying vehicle electrical distribution systems.

"As electrification takes hold in the automotive industry, it is more important than ever that the industry adopts intelligent wiring systems that minimize complexity and weight," said Kevin Coakley, CEO of CelLink. "We are very pleased to have BorgWarner join as an investor, fortifying the significant impact our products will have on the future of electrified transportation."

BorgWarner's investment will support CelLink's next phase of growth, in which it expects to expand its manufacturing capacity.

In recent years, BorgWarner has strategically and deliberately grown its electrification portfolio through investments, acquisitions and partnerships with companies like CelLink. BorgWarner became an investor of CelLink on June 11, 2021. To learn more about BorgWarner's electrification strategy and comprehensive portfolio complete with hybrid and electric vehicle solutions, visit borgwarner.com.

About BorgWarner
BorgWarner Inc. (NYSE: BWA) is a global product leader in delivering innovative and sustainable mobility solutions for the vehicle market. Building on its original equipment expertise, BorgWarner also brings market leading product and service solutions to the global aftermarket. With manufacturing and technical facilities in 96 locations in 23 countries, the company employs approximately 50,000 people worldwide. For more information, please visit borgwarner.com.

About CelLink
CelLink, founded in 2012 by Kevin Coakley and Malcolm Brown, and joined in 2015 by Bruce Graham, manufactures the world's largest and most electrically and thermally conductive flexible circuits. The company's products are ideally-suited to power and signal transmission applications including automotive wiring, battery packs, LED lighting, photovoltaics, and other devices. CelLink was originally funded through a 2014 US Department of Energy Sunshot grant, and has since received a total of $65M in follow-on funding. Please visit www.cellinkcircuits.com for more information.

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SOURCE BorgWarner