Military-focused battery developer Panacis sold to U.S. company

OBJ Staff
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Vermont-based Revision Military has acquired local battery developer Panacis.

Panacis's Soldier Sharepack technology is a wearable energy storage system for military usage.

The deal will allow Revision to better incorporate power management systems into its offerings, the company said in a press release.

“The opportunity for an integrated power management system that provides flexible storage and power management that can be easily adapted to a wide range of mission scenarios is extensive,” said Jonathan Blanshay, CEO of Revision, in the press release.

“We are pleased to add power management – the ability to store, deliver, harvest, and share energy – to our roster of technologies in support of fully integrating electronic equipment while lessening the battery burden on soldiers.”

The company did not respond to questions concerning the purchase price.

In April 2013, Panacis raised $1.8 million to commercialize a wearable battery system for soldiers that could be recharged through solar power or even the wearer's movements.

According to Revision, the two companies have previously worked together on several products.

The company said the Panacis team will continue to be based in Ottawa.

Geographic location: U.S., Ottawa

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