DGAP-News

AKASOL AG: Cooperation expanded: AKASOL receives additional long-term follow-up order from a major European bus manufacturer

DGAP-News: AKASOL AG / Key word(s): Incoming Orders/Expansion AKASOL AG: Cooperation expanded: AKASOL receives additional long-term follow-up order from a major European bus manufacturer 27.04.2021 / 08:00 The issuer is solely responsible for the content of this announcement. Cooperation expanded: AKASOL receives additional long-term follow-up order from a major European bus manufacturer

• Successful cooperation with AKASOL's longstanding existing customer extended for several more years
• Delivery of ultra-high-energy battery systems for electric buses agreed from 2022 until at least 2024, with an option to extend the arrangement until the end of 2027
• Order volume in the high double-digit million euros through 2024 and in the low triple-digit million euros through 2027
• Battery systems to be produced in AKASOL's new Gigafactory 1 in Darmstadt

Darmstadt, Germany, April 27, 2021 - One of Europe's leading bus manufacturers is again extending its cooperation with AKASOL AG ("AKASOL;" the "Company"; ISIN DE000A2JNWZ9) and awarding another long-term follow-up order to the Darmstadt-based developer and manufacturer of high-performance and high-energy battery systems: From mid-2022 until at least 2024, the Company will supply its ultra-high-energy battery systems for use in the long-standing customer's new electric buses, with a total volume in the high double-digit-million-euro range. Should the extension option for the delivery of further battery systems come into effect by 2027, as already agreed in the contract, the order volume will rise to a low three-digit-million-euro amount.

AKASOL CEO Sven Schulz summarized the situation: "We are pleased to be able to report such good news about the strengthening of our growth path in the second quarter of the new financial year. The current order represents the second extension of the cooperation between our long-term customer and AKASOL and is at the same time a great vote of confidence in our extensive expertise in the field of powerful lithium-ion battery systems for electric buses." Schulz expressed great pride that AKASOL has established itself as a reliable supplier for the European bus manufacturer and is now expanding its strategic partnership with the extension of the contract. "Our good and trusting cooperation with one of our first serial product customers has grown continuously since 2015 - not just as a supplier to Europe's largest manufacturer of electric buses, but also as an integrated development partner for what is likely the most important component of the electric powertrain."