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ElringKlinger secures IPCEI funding for innovative battery cell housing design

DGAP-News: ElringKlinger AG / Key word(s): Miscellaneous ElringKlinger secures IPCEI funding for innovative battery cell housing design (news with additional features) 27.04.2021 / 14:36 The issuer is solely responsible for the content of this announcement. PRESS RELEASE

ElringKlinger secures IPCEI funding for innovative battery cell housing design

• The funding will enable ElringKlinger to develop innovative battery cell housing components and get them ready for industrial-scale production
• The German Federal Ministry for Economic Affairs and Energy and the state of Baden-Württemberg will provide a total of EUR 33.8 million by the end of 2026
• Dr. Stefan Wolf, CEO of ElringKlinger AG: "With our innovative battery cell housing design, we want to make a lasting contribution toward climate-neutral battery cell manufacture in Europe."

Dettingen/Erms (Germany), April 27, 2021 +++ ElringKlinger AG's project to develop innovative battery cell housing components and get them ready for industrial-scale production is to be funded by the German Federal Ministry for Economic Affairs and Energy (BMWi) and the state of Baden-Württemberg as part of the second European large-scale IPCEI (Important Project of Common European Interest) for battery technology. Thomas Bareiß, Parliamentary State Secretary at the BMWi, and Dr. Nicole Hoffmeister-Kraut, Minister of Economic Affairs of the State of Baden-Württemberg, presented Dr. Stefan Wolf, CEO of ElringKlinger AG, with the official funding approval earlier today. The small-scale ceremony at the chamber of commerce and industry in Reutlingen was held behind closed doors due to the coronavirus pandemic, although the speeches, the presentation of the official approval, and the subsequent panel debate were live-streamed on the BMWi website for journalists and the general public.

The second battery IPCEI, entitled "European Battery Innovation - EuBatIn," is being coordinated by Germany. It was approved by the European Commission in late January 2021, at the same time as the companies involved were also announced. All in all, twelve EU countries are providing up to EUR 2.9 billion in funding to develop a European value chain for battery production. ElringKlinger is one of only eleven German companies to obtain funding of this kind as part of the EuBatIn program.