Shell, an oil and gas company, agreed to acquire MIDEL, a brand of ester-based dielectric transformer fluids, and MIVOLT, a provider of dielectric fluid for direct immersion cooling of battery systems and power electronics, from M&I Materials, a business with a rich heritage of commercialising materials for demanding applications. Financial terms were not disclosed. “Ester fluid manufacturing has been a huge part of M&I Materials Ltd for over 45 years and a source of pride for everyone involved in developing this technology which customers in many markets worldwide have come to specify and trust. We want to see the growth potential for both MIDEL and MIVOLT realised and we believe Shell is uniquely positioned to take them forward and on to their next stage of development," Colin Salt, M&I Materials Chairman.