DGAP-News

​​​​​​​IBU-tec advanced materials AG Concludes Agreements with International Raw Material Suppliers to Ensure Sustainable Materials Procurement

DGAP-News: IBU-tec advanced materials AG / Key word(s): Miscellaneous ​​​​​​​IBU-tec advanced materials AG Concludes Agreements with International Raw Material Suppliers to Ensure Sustainable Materials Procurement 07.07.2022 / 08:30 The issuer is solely responsible for the content of this announcement. IBU-tec advanced materials AG Concludes Agreements with International Raw Material Suppliers to Ensure Lasting Materials Procurement

Weimar, 7 July 2022 – As part of its long-term growth strategy, IBU-tec advanced materials AG (“IBU-tec”, ISIN: DE000A0XYHT5) is securing lasting supply of resources for battery materials production. IBU-tec is currently concluding corresponding quantity and price range agreements with international suppliers of lithium, iron oxide and phosphoric acid. The first framework agreements have already been signed and others are undergoing final review.

The model for increasing supply chain security was jointly approved by the Executive Board and the Supervisory Board. IBU-tec is proactively managing industries current supply chain challenges while meeting its responsibilities as the only European manufacturer of LFP battery materials to date. LFP batteries are among other things, increasingly used in electromobility and stationary energy storage, and therefore an important implementation part of the global energy transition.

Ulrich Weitz, CEO of IBU-tec: “Other material combinations for batteries, such as nickel and cobalt, have recently experienced massive price increases and growing supply bottlenecks. Since the beginning of 2020, prices have risen by more than 50% in some cases. Fortunately, these raw materials are not required for LFP batteries, further increasing their industrial viability. With the current agreements in place, we ensure that we can meet emerging demand economically and in line with our strategy.”

Sandrine Cailleteau, Chairwoman of the Supervisory Board of IBU-tec: “The upcoming agreements underpin IBU-tec’s growth strategy. As thus far the only producer of LFP battery material in Europe, we have to take particular care to secure the raw material supply, as this is the only way to achieve the goal of establishing strong battery production in Europe. That is why the Supervisory Board fully supports the current efforts of the Executive Board.”