Weimar, 4 April 2023 – IBU-tec advanced materials AG (“IBU-tec”, ISIN: DE000A0XYHT5) has reached another milestone in the LFP battery material market. A contract has been signed with a renowned global automotive group for the development and production of battery material for electromobility. The plan is to produce a novel LFP cathode material for passenger cars with electric drives. Following the development phase, IBU-tec will produce significant quantities of the material at the Weimar site beginning as early as the second half of 2023. Confidentiality was agreed on further details of the cooperation.
Thus, another major automotive group has now been acquired as a customer for cooperation in the field of LFP battery material. This represents another important step for IBU-tec towards its 2025 sales target, to which battery materials are expected to make a significant contribution.
Ulrich Weitz, CEO of IBU-tec advanced materials AG and CEO of the wholly owned subsidiary IBUvolt battery materials GmbH: “Our strategy is to use our many years of experience in the field of battery materials, and as the only European manufacturer of LFP materials, to directly address the globally active corporations and win them as customers. The strategy is working – both for passenger cars and commercial vehicles. The major players in the global automotive industry obviously rely on IBU-tec’s expertise, innovative strength and production quality. The contract now signed is an important step, but only the beginning of a development that will magnify our battery material sales and secure IBU-tec’s sustainable prosperity. We are currently in numerous discussions with other potential partners.”
The IBU-tec Group develops and produces innovative materials of the highest quality for industry. It combines unique thermal process technology, some of which is patented, with the process and material know-how of around 250 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 well positioned for 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.
IBU-tec advanced materials AG
Dr. Stefan Steck
Public & Investor Relations
t +49 3643 8649-51
Financial and Business Press
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