EnerSys Awarded $92M Long-Term Contract With the United States Navy for Thin Plate Pure Lead (TPPL) Batteries

EnerSys (NYSE: ENS), the global leader in stored energy solutions for industrial applications, has recently been selected to supply its proprietary Thin Plate Pure Lead (TPPL) batteries to the United States Navy (USN) as main storage batteries on all four classes of USN Nuclear Submarines. The contract has a maximum value of $91.8M over its multi-year duration.

This production contract is a continuation of a supplier relationship in which EnerSys has supplied its TPPL batteries for US Navy submarines for over fifteen years from its highly automated facility in Warrensburg, Missouri.

“The mission-critical nature of our energy storage solutions is at the foundation of our partnership with the US Navy. Our entire EnerSys team is proud of the Navy’s confidence in our ability to meet these needs by extending our production relationship through this new contract award,” said David Shaffer, President and Chief Executive Officer for EnerSys.

Mark Matthews, Senior Vice President Specialty Global added, “EnerSys takes great pride in supporting the US Navy’s submarine fleet with our proprietary TPPL technology for the growing needs of this demanding application. It is an honor to partner with the US Navy for the next five years and we look forward to continuing to support the US Navy as well as the entire US Department of Defense with EnerSys advanced lithium cobalt and proprietary lithium ion-chemistries.”

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This press release and oral statements made regarding the subjects of this release, contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, or the Reform Act, which may include, but are not limited to, statements regarding EnerSys' earnings estimates, plans, objectives, expectations, intentions and estimated value of contracts with the United States Navy and other statements contained in this press release that are not historical facts, including statements identified by words such as "believe," "plan," "seek," "expect," "intend," "estimate," "anticipate," "will," and similar expressions. All statements addressing operating performance, events, or developments that EnerSys expects or anticipates will occur in the future, including statements relating to sales growth, earnings or earnings per share growth, and market share, as well as statements expressing optimism or pessimism about future operating results, are forward-looking statements within the meaning of the Reform Act. The forward-looking statements are based on management's current views and assumptions regarding future events and operating performance, and are inherently subject to significant business, economic, and competitive uncertainties and contingencies, satisfying conditions and obligations contained in contracts and changes in circumstances, many of which are beyond EnerSys' control. The statements in this press release are made as of the date of this press release, even if subsequently made available by EnerSys on its website or otherwise. EnerSys does not undertake any obligation to update or revise these statements to reflect events or circumstances occurring after the date of this press release.