Benzinga | Dec 15, 2021 01:30PM EST

BorgWarner Inks Licensing Agreement With PolyCharge America

* BorgWarner Inc (NYSE:BWA) has signed an exclusive licensing agreement with PolyCharge America Inc, a startup company formed to deliver disruptive capacitor products. The financial terms of the arrangement were not disclosed.

* Through the agreement, BorgWarner will secure exclusive rights to bring the PolyCharge NanoLam capacitors in-house for use in the company's inverters.

* The capacitors enable high-power inverters to be smaller, lighter, and more tolerant to high temperatures.

* Price Action: BWA shares are trading lower by 1.70% at $43.84 on the last check Wednesday.