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How did Exide transform from a century-old company into a global battery empire?
Exide Technologies, the name behind it hides more than a century of history and innovation. The company was originally founded by William Warren Gibbs in 1888 as the Electric Storage Battery Company. Exide's story is not just about the history of batteries, but how it overcame numerous challenges in the market and eventually became a giant in the global battery industry.
"Gibbs' goal is to make the storage battery a commercial product that will serve electric lighting companies."
Historical evolution
Exide's history dates back to 1888, when the Electricity Storage Battery Company focused on producing lead-chlorine batteries, which began to provide stable power support for electrical networks in 1893. Over time, Exide's technology evolved and in 1898 provided power to the US Navy's first submarine, the USS Holland.
In 1900, Exide introduced a higher capacity and lighter battery, which is considered the prototype of modern automobile batteries. With the advent of World War II, Exide became the primary battery supplier for U.S. Navy submarines, further solidifying its position in the market.
"During World War II, Exide was the primary battery supplier for U.S. Navy submarines and the lead contractor for Mark 18 electric torpedo batteries."
Challenges and transformation
While Exide has made significant advances in technology and products, the company has also faced several challenges in recent decades. In 2002, Exide filed for bankruptcy due to debt problems after the acquisition. After a tough period, Exide reorganized and emerged from Chapter 11 bankruptcy protection in 2015.
After the restructuring, Exide stepped up its investment in new technologies, such as lithium-ion batteries and fast-charging technology, to keep up with rapid changes in the industry. In addition, Exide completed debt restructuring in 2019, further enhancing the company's liquidity.
"Exide has achieved a significant business transformation with a new leadership team and a renewed focus on innovation and sustainability."
Sustainability and Recycling
Exide is not only innovating in battery technology, but also working on environmental sustainability. As one of the world's largest lead-acid battery recycling companies, Exide has implemented a complete waste management program to ensure that the resources used are recycled and reused to the maximum extent possible. Every year, Exide recycles millions of pounds of lead and countless liters of sulfuric acid, driving the development of a circular economy.
This 'closed loop recycling' process is a model for the industry, enabling Exide to significantly reduce waste while positively impacting its brand image and social responsibility.
Future Outlook
Entering a new generation, Exide has established research and development institutions, as well as manufacturing and recycling plants in many countries. Its products are aimed at a variety of markets, including automotive, industrial, telecommunications and solar energy storage. Exide's global headquarters is currently located in Milton, Georgia, USA, but its influence has already spread to 80 countries.
"Further innovation and global expansion will be at the core of Exide's future growth."
As the global energy transition accelerates, Exide is working hard to seize opportunities and promote more sustainable solutions to meet growing market demand. But in such a transformation, facing historical challenges and current tests, how can Exide ensure its continued growth and stable development?
