EQS-News

IBU-tec Advanced Materials AG Receives Major Development Order in the Battery Sector from International Commercial Vehicle Manufacturer

EQS-News: IBU-tec advanced materials AG / Key word(s): Incoming Orders/Contract IBU-tec Advanced Materials AG Receives Major Development Order in the Battery Sector from International Commercial Vehicle Manufacturer 28.11.2022 / 08:22 CET/CEST The issuer is solely responsible for the content of this announcement. Corporate News

IBU-tec Advanced Materials AG Receives Major Development Order in the Battery Sector from International Commercial Vehicle Manufacturer

• Development partnership with an international commercial vehicle manufacturer
• Development of an IBUvolt-based cathode active material
• Development partnerships to be potential door openers for large-volume series production

Weimar, 28 November 2022 – IBU-tec advanced materials AG (“IBU-tec”, ISIN: DE000A0XYHT5) has received a significant order in the battery sector. As part of a partnership with an international commercial vehicle manufacturer, IBU-tec will develop a new cathode active material. The basis for this will be the existing, high-performance IBUvolt lithium iron phosphate products.

IBU-tec sees the current partnership as a possible model in which development collaborations open the door to subsequent large-volume series production of new materials as part of a European supply chain. To date, IBU-tec is the only manufacturer of LFP battery material in Europe.

Ulrich Weitz, CEO of IBU-tec: “This order is a milestone for our strategic expansion in the battery sector. The major order underpins IBU-tec’s unique position in battery materials. It is not without reason that an international commercial vehicle manufacturer relies on our know-how and experience in this field. We assume this cooperation will be exemplary for further corresponding partnerships and orders from the industry. Of course, it is our goal that such development partnerships will later lead to series production by IBU-tec. We work towards this goal and see ourselves in a promising position.”