Focus on international expansion: Management Board appoints new Managing Director for AKASOL Inc. in the US

Darmstadt, November 1, 2018 - AKASOL AG ("AKASOL"; ISIN DE000A2JNWZ9), a leading German manufacturer of high-performance lithium-ion battery systems for buses, commercial, rail and industrial vehicles, ships and stationary applications, is expanding its presence on the North American market as planned.

AKASOL Inc.'s production site is to be commissioned in late 2019 in the USA and will have an annual production capacity of 300 MWh. In early October this year, Roy Schulde was appointed Managing Director of the subsidiary. He has a broad international background and diverse experience in product management, global business development, engineering, sales and marketing. Mr. Schulde will oversee the ramp-up of series production in the US.

Sven Schulz, CEO of AKASOL AG: "The North American automotive and commercial vehicle markets are extremely important factors in the growth strategy of AKASOL AG. This site is therefore an important milestone in our company history. We are delighted to be joined by such a proven, experienced automotive sector expert as Roy Schulde."

 

 

Contact

Isabel Heinen

Phone: +49 (0) 6103 48567-26 | Email:

About AKASOL

AKASOL is a leading German manufacturer of high-performance lithium-ion battery systems for buses, commercial vehicles, rail vehicles, industrial vehicles, marine and stationary applications. Building on nearly 30 years of experience, AKASOL is a pioneer in developing, testing and manufacturing certified battery systems for the commercial transport sector. AKASOL AG's shares are traded on the Prime Standard segment of the Frankfurt Stock Exchange since June 29, 2018.

Based in Germany, AKASOL operates a facility in Langen with an annual capacity of up to 300 MWh which is planned to be expanded to 600 MWh by 2020. To AKASOL's knowledge, this is Europe's largest production plant for commercial vehicle lithium-ion battery systems, currently capable of producing high-performance battery systems for up to 1,500 fully electric buses or up to 6,000 commercial vehicles per year, depending on battery size. AKASOL's systems are manufactured to the industry standards demanded by leading OEM clients. Current clients include Daimler, a Scandinavian bus and truck manufacturer, Alstom, Bombardier, Rolls-Royce Power Systems (MTU Friedrichshafen) and Medatech. AKASOL boasts a technology-independent product portfolio. This allows the Company to choose the best battery cells and battery chemistry according to the clients' individual needs.

DISCLAIMER

Statements contained herein may constitute "forward-looking statements." Forward-looking statements are generally identifiable by the use of the words "may," "will," "should," "plan," "expect," "anticipate," "estimate," "believe," "intend," "project," "goal" or "target" or the negative of these words or other variations on these words or comparable terminology.

Forward-looking statements are based on current expectations and involve a number of known and unknown risks, uncertainties and other factors that could cause the Group's or its industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. You should not place undue reliance on forward-looking statements and the Group does not undertake publicly to update or revise any forward-looking statement that may be made herein, whether as a result of new information, future events or otherwise.