Vitzrocell Completes Acquisition of Canada's Innova... "Aiming for No.1 in High-Temperature Batteries"

Vitzrocell High-Temperature Battery

Vitzrocell, a company specializing in lithium primary batteries and secondary battery materials, announced on October 4 that it has acquired Innova Power Solutions Inc., a Canadian company specializing in high-temperature battery packs for oil and gas drilling. The company is led by CEO Jang Seungguk.

Vitzrocell completed the acquisition process on October 1, 2025. The transaction is valued at 33,375,638 Canadian dollars (approximately 33.6 billion Korean won). Through this acquisition, the company stated its plans to strengthen its market dominance in the high-temperature battery sector, secure next-generation technological leadership in the battery pack field, and maximize both business and technological synergies.

Innova possesses proprietary technology in the design and manufacturing of high-temperature battery packs for oil and gas drilling equipment and has grown based on the US and Canadian markets. With its battery pack monitoring chip solutions and a network of small- and medium-sized customers, Innova is expected to generate significant synergies for Vitzrocell's global business expansion.

Vitzrocell anticipates that utilizing Innova’s North American production base will minimize tariff risks and further enhance cost competitiveness. In addition, the company expects demand for high-temperature batteries to increase significantly, driven by expanding oil and gas infrastructure investments and policies to strengthen energy self-sufficiency in North America.

Vitzrocell stated that, with this acquisition, it aims to become the global leader in the high-temperature battery market by 2026 and solidify its position on the world stage. High-temperature batteries are capable of operating without performance degradation at temperatures above 100°C. They are characterized by their ability to maintain performance and safety even in high-temperature environments such as oil pumps.