Weimar, October 8, 2024 – IBU-tec advanced materials AG ("IBU-tec", ISIN: DE000A0XYHT5) has signed two extensive contracts for the further development and production of LFP cathode material on behalf of a global automotive group. Under the development contract, IBU-tec will optimize its IBUvolt® LFP402battery material for specific e-mobility applications for the major customer. In addition, the automotive partner has placed a scaling order for the production of LFP402 for e-mobility. The total volume of the two orders is in the mid single-digit million Euro range. The orders will have a positive impact on IBU-tec's financial year 2024. IBU-tec is currently in advanced discussions with the partner to expand the cooperation. With these two orders, IBU-tec significantly expands its strong market position as one of the world's leading battery material manufacturers and the only LFP manufacturer in Europe.
Ulrich Weitz, founder of IBU-tec and responsible for battery business at IBUvolt battery materials GmbH: "This is a huge step forward for the IBU-tec Group! We're turning our already strong market position in LFP battery materials into a commercial success story. The latest orders show that global automotive and battery cell manufacturers are convinced of the exceptional quality of our battery products. We're excited to see what the future holds as we expand our partnership with this global player!"
IBUvolt® LFP402 is a brand-new, game-changing product from IBU-tec that hit the market in the first quarter of 2024. It has a CO2 footprint that is around 40 percent lower than conventional battery materials, making it a sustainable choice for a greener future. Since its launch, IBU-tec has seen a surge in demand for this revolutionary cathode material, especially from automotive and battery cell manufacturers.
Jörg Leinenbach, CEO of IBU-tec: "By collaborating with the global automaker, we are taking an important step to continue our dynamic growth in battery materials. Battery materials are the clear growth driver of our Group, as the current partnership shows more than ever. We are therefore continuing to adhere to our growth strategy IBU2025."
About IBU-tec
The IBU-tec Group develops and produces innovative materials of the highest quality for industry. In doing so, it combines unique, partly patent-protected thermal process technology with the process and material know-how of around 230 highly qualified employees.
The company's own products include LFP battery material, which is an important component of batteries for electromobility and stationary energy storage, as well as solutions for air purification, resource conservation and the reduction of plastic packaging. IBU-tec is thus positioned in the long term in global megatrends – especially climate and environmental protection – and has an international customer base ranging from innovative medium-sized companies to global corporations.
Contact
edicto GmbH
Axel Mühlhaus
Eschersheimer Landstraße 42-44
60322 Frankfurt
t +49 69 905505-52
IBU-tec(at)edicto.de