Zetwerk Ayr Energy Settlement Ends US-India Legal Dispute
The Zetwerk Ayr Energy settlement dismisses claims in US and Indian courts and seeks to end a related USITC investigation.
The Zetwerk Ayr Energy settlement
Zetwerk and US-based transformer startup Ayr Energy have reached a global settlement, dismissing claims in lawsuits pending before the Texas Business Court and in a separate Bengaluru case involving Zetwerk Manufacturing Businesses and Ayr Energy founder Anirudh Reddy.
Both sides have also jointly sought termination of the related US International Trade Commission investigation. The settlement comes more than a year after the dispute began.
What the companies do
Ayr Energy builds high-voltage and medium-voltage equipment, including transformers and switchgear, for data centre developers, utilities and power producers. The California-based startup was founded by Reddy after his stint at Zetwerk and has raised $3.5 Mn in a seed round led by General Catalyst.
Zetwerk operates a manufacturing and supply chain platform serving energy, renewables, aerospace, defence, automotive and electronics businesses. The company is preparing for a public-market debut.
