NEWS RELEASE   February 08, 2022

John Deere Acquires Majority Ownership in Kreisel Electric

Exterior view of Kreisel's Headquarters

MOLINE, Illinois (February 8, 2022) — Deere & Company (NYSE: DE) has acquired majority ownership in Kreisel Electric Inc., a leading pioneer in the development of immersion-cooled battery technology. The Austrian company manufactures high-density, high-durability electric battery modules and packs for high-performance and off-highway applications and has created a battery-buffered, high-powered charging infrastructure platform (CHIMERO).

This transaction was announced in December 2021 and is now complete, following regulatory approval.

Kreisel Electric ( is based in Rainbach im Mühlkreis, Austria. The company was founded in 2014 and has approximately 180 full-time employees. The business will retain its brand name and trademark.

About Deere & Company

Deere & Company ( is a world leader in providing advanced products, technology and services for customers whose work is revolutionizing agriculture and construction — those who cultivate, harvest, transform, enrich and build upon the land to meet the world's increasing need for food, fuel, shelter and infrastructure.

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