Press Release

Tesvolt concludes an agreement in the hydrogen segment with a potential turnover of EUR 40 million

- Largest contract in the company's history

- Agreement is concluded with the Schaper Group for end customer APEX Group as part of a cooperative relationship

- Tesvolt storage systems and the SEnC control system developed by the Schaper Group ensure a reliable power supply for hydrogen electrolysis

- Positioning in the growing hydrogen market is underpinning Tesvolt's growth path

Wittenberg, 4 October 2021 - Tesvolt GmbH, one of the world's leading companies in technology for energy storage in the commercial and industrial sectors, has concluded an agreement for the largest contract so far in the company's history. Together with the Schaper Group, Tesvolt will implement various projects in the hydrogen segment, with the APEX Group as an end customer. By 2023, Tesvolt expects this venture to potentially turn over EUR 40 million. Tesvolt and the Schaper Group have been cooperating with each other since 2018 and recently strengthened their strategic partnership, also developing new concepts for using battery storage systems for integrated industrial applications.

For the hydrogen projects, Tesvolt will supply appropriate energy storage system solutions, which are significantly important for the process of hydrogen generation. As its cooperating partner, the Schaper Group is responsible for engineering and implementing higher-level control technology, as well as integrating the energy solution in the customer installation. The end customer, the APEX Group, which is based in Rostock and operates internationally, implements tailored projects in the hydrogen segment. As part of this, APEX operates, constructs and plans hydrogen production, storage and processing facilities. With independently manufactured hydrogen, APEX offers carbon-neutral power generation, which is used in the industrial sector, among others. To generate green hydrogen, water must be split by means of electrolysis. Energy from renewable sources, such as solar power, is used for this. Tesvolt's high-performance energy storage systems are used to guarantee a continuous power supply during the electrolysis process. This is especially important at times when there is insufficient solar energy available, for example. Consequently, the energy storage system combined with the SEnC control system also extends how long electrolysis lasts.

The aim is for the Tesvolt storage systems used in the APEX hydrogen projects from 2022 onwards to have an initial total capacity of up to 40 megawatt hours. In 2023, the overall capacity should be increased by another 60 megawatt hours, and a similar development is expected in 2024 as well.

With this agreement, Tesvolt has laid an important foundation in terms of positioning itself in the promising hydrogen market. In doing so, Tesvolt is continuing with its strategic growth trajectory.

Daniel Hannemann, co-founder and Commercial Director at Tesvolt: "The current project, with a potential turnover of EUR 40 million, reinforces our success story. By reaching this milestone, we're setting a pioneering course to make a substantial contribution to our world's complex energy transition. Hydrogen is indispensable for the global energy revolution. It brings us closer to our goal of being able to offer carbon-neutral energy all over the world. We are proud that we can implement this important project together with our established partner Schaper and the customer APEX."

Hermann Huss, Owner and Managing Director of the Schaper Group: "We have been working with Tesvolt intensively on various projects for almost three years now and we are invariably convinced of the quality of the Tesvolt battery storage systems. In particular, the efficiency and the lifespan of Tesvolt battery cells are excellent compared to those offered by other manufacturers. So Tesvolt battery storage system solutions are extremely suitable for more than just hydrogen projects."

About Tesvolt

Tesvolt specialises in battery storage systems for commerce and industry. The innovative company produces intelligent lithium storage systems with prismatic battery cells from Samsung SDI, based on nickel manganese cobalt oxide. Tesvolt manufactures its commercial storage system solutions in series production at Europe's first gigafactory for commercial battery storage systems at their Wittenberg site and delivers them worldwide. Tesvolt has already implemented more than 2,200 storage system projects and employs more than 100 people. The young company has already received several awards, including the German Entrepreneur Award in the "Rising Stars" category, the "TOP 100" award for innovation and the international award for rural electrification (ARE).

About the Schaper Group

The Schaper Group develops complex energy supply systems and fully implements these projects for customers. It has developed custom solutions that are primarily constructed in containers.
The SEnC control system, one of the Schaper Group's proprietary developments, is used with generating plants, storage systems and consumer installations to provide an innovative energy solution that's made to order for the end customer. It offers the right solution for almost any application.
The Schaper Group has been affiliated with KBW Technologie AG since 2018; KBW Technologie AG is an owner-managed, medium-sized stock company.

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