Epiroc to acquire battery conversion specialist FVT Research
By Chad Elmore16 September 2021
Canadian company has expertise in converting diesel-powered mining machines to battery-electric vehicles.
Epiroc, a Swedish manufacturer of equipment for the mining and infrastructure industries, will acquire the business and assets of FVT Research Inc., a Canadian company with expertise in converting diesel-powered mining machines to battery-electric vehicles.
FVT Research, based in Vancouver, British Columbia, Canada, designs diesel-to-battery conversion kits and rebuilds mining machines to electric versions. The company has also recently been part of a successful project to convert the diesel-powered Epiroc Scooptram ST1030 underground mining loader to battery electric. FVT Research has about 25 employees near Vancouver as well as an office in Sudbury, Ontario, Canada.
“Bringing the strong team at FVT Research into the Epiroc Group fits perfectly into our strategy to provide emissions-free battery-electric vehicles,” said Helena Hedblom, Epiroc’s President and CEO. “Our customers are increasingly discovering the significant benefits that come with using battery-electric vehicles, and FVT Research’s technical expertise and competence will be key assets for Epiroc as we continue to provide more solutions in this area.”
The acquisition is expected to be completed in the second half 2021.