Press release

Tesvolt positions itself for further growth with experienced new CFO Philipp Koecke

Wittenberg, 4 April 2022 - Tesvolt GmbH, one of the world's leading technology providers of energy storage system solutions for commercial and industrial applications, is consolidating its management team to prepare for further growth by securing Philipp Koecke as Chief Financial Officer (CFO) from the beginning of May 2022. Tesvolt now has a highly experienced finance expert as Commercial Director, one who brings many years of industry experience in renewable energies around the world. In recent decades, his roles have included CFO for a listed company with an annual turnover in the single-digit billion-euro range and corresponding market capitalisation.

Following his economics studies, Koecke worked for many years as an investment manager at a technology-oriented holding company before a 15-year stint in finance at Solarworld AG. In his time there, the company achieved annual turnover of up to EUR 1.3 billion. Alongside his board duties, he was also a member of the Board of Directors at the company's US subsidiaries, which together counted more than 1,000 employees. He supported Solarworld as it grew to more than 3,000 employees and contributed significantly to the successful expansion of the company. He brings with him a deep understanding of the engineering involved in renewable energies and storage technology. In 2017, Koecke moved into senior management at a fast-growing technology firm.

Daniel Hannemann, co-founder and Commercial Director at Tesvolt: "Our company is undergoing a period of rapid growth. In finance and elsewhere we are channelling our expertise and organisation to ensure we manage this global growth professionally. So we are delighted to have secured Philipp Koecke as a highly experienced CFO for Tesvolt. Philipp brings with him copious expertise in our core business areas. He has many years of experience in high-growth companies that have multiplied their revenues, and intimate knowledge of the practices of financial markets around the world. We are very much looking forward to our work together and the success that awaits us."

Philipp Koecke, new Chief Financial Officer at Tesvolt: "Tesvolt is a company with outstanding technology which is gearing up to take a leading role in one of the fastest-growing markets in the world. This position is very exciting for me, because it allows me to contribute my skills and experience to support the company's growth trajectory and, as a result, take an active part in furthering the global energy transition. The team, the technology and the company culture have all made an excellent impression on me, which is why I am very much looking forward to my new role."

About Tesvolt

Tesvolt specialises in battery storage systems for commerce and industry. The innovative company produces intelligent lithium storage systems with power ratings from 30 kilowatt hours through to many megawatt hours. Tesvolt uses high-performance battery cells from Samsung SDI. Tesvolt manufactures its commercial storage system solutions in series production at Europe's first gigafactory for commercial battery storage systems at its Wittenberg site and delivers them worldwide. Tesvolt has already implemented more than 3,000 storage system projects worldwide and employs almost 150 people. The 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).

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