A few days ago Schumacher Electric Corporation announced a new partnership with Ripple Industries.
New collaboration between Ripple Industries and Schumacher Electric
Schumacher Electric is a company that deals with the design, manufacture and distribution of power conversion products in the electricity sector.
In reality, it is more of an acquisition than a partnership, as Lincolnshire Management has formalized the sale of Schumacher Electric to Ripple Industries.
Ripple Industries is a private investment company with no apparent ties to the crypto company Ripple.
There are actually two US companies called “Ripple Industries”, and one Canadian company, and none of these are connected to Ripple Labs.
William Bishop, of Ripple Industries, commented:
“The Schumacher brand is synonymous with innovation and enhancing battery life; we share management’s vision of the big opportunities ahead as global transportation needs evolve and put greater demands on holistic power conversion solutions including battery maintenance and charging. We will move aggressively with Mickey and the entire Schumacher team to capitalize on these exciting growth opportunities”.
Are there any links between the 3 entities?
The fact that Schumacher Electric is active in the energy field, albeit specifically in the production of electrical devices, while Ripple Industries is an investment company, may have created a misunderstanding.
Indeed, it would be possible to imagine that Ripple Industries could have been the financial arm of Ripple Labs, but this is not the case.
Furthermore, it might even be possible to imagine that Ripple Labs might also intend to operate within the energy sector, but Schumacher Electric is actually only present in this sector as a manufacturer of electrical devices, and XRP is an energy-efficient cryptocurrency.
Both Ripple Labs and Ripple Industries are based in California, but the former in San Francisco and the latter in Los Angeles.
Finally, William Bishop appears to have absolutely no connection to Ripple Labs.
The word “ripple” means small wave and is therefore widely used in the field of electromagnetic waves, for example. It is therefore not surprising that there are many companies that also use it outside the crypto sector.
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