EQS-News

IBU-tec launches IBUvolt 402, a new European LFP battery product with a CO2 footprint approximately 40% lower than market average and provides updates on advances in the battery sector

EQS-News: IBU-tec advanced materials AG / Key word(s): Product Launch IBU-tec launches IBUvolt 402, a new European LFP battery product with a CO2 footprint approximately 40% lower than market average and provides updates on advances in the battery sector 29.01.2024 / 08:12 CET/CEST The issuer is solely responsible for the content of this announcement.

Corporate News

IBU-tec launches IBUvolt 402, a new European LFP battery product with a CO2 footprint approximately 40% lower than market average and provides updates on advances in the battery sector

• The product is designed to have demand-driven properties at a competitive price, providing sustainable growth impetus through access to new markets.
• IBUvolt 402 expands the product portfolio with a material for standardized wet coating of battery electrodes.
• The company is confident in the product's success and expects to launch it in Q1 2024. There has already been significant interest from potential customers, positioning the company strongly in the future market of LFP battery materials.
• This market is expected to increase by around 17% annually to around USD 54 billion by 2035.
• IBU-tec is a leader in the field of electromobility with IBUvolt 402 and IBUvolt 400, both in wet coating and the new dry coating process. IBU-tec is confident that global automotive groups will adopt the new dry coating process starting in 2026.
• Battery materials are IBU-tec's key growth driver, with sales expected to multiply to EUR 30-60 million in the next two years.

• For more information, please refer to the detailed video statement from IBU-tec management available on the company's website.

Weimar, January 29, 2024 – IBU-tec advanced materials AG ("IBU-tec", ISIN: DE000A0XYHT5) will launch its new LFP battery product, IBUvolt 402, in Q1 2024 accelerating its future growth in the battery sector.  IBUvolt 402 is a European LFP material with a CO2 footprint that is approximately 40% lower than the market average, currently dominated by Chinese suppliers. The new IBU-tec battery material has demand-driven product properties and a highly competitive price.