ZAF Energy Spins off Æsir Technologies
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JOPLIN, Mo., Jan. 14, 2021 /PRNewswire/ ZAF Energy Systems, Inc., announced today the spinoff of Æsir Technologies, Inc., to provide advanced energy storage solutions to the specialty markets of aerospace, defense, medical, and critical infrastructure.
Prior to Jan 01, 2021, Æsir had been a wholly owned subsidiary of ZAF. On Jan 01, 2021, this rearrangement takes the form of divestiture by ZAF of Æsir and an asset transfer from ZAF to Æsir of all its assets and operating employees. The legal definition of the relationship between ZAF and Æsir is known as a Section 355 spinoff.