Voltabox Secures Stake in Fleet Management Start-Up ForkOn

- Voltabox is exercising an option during pre-Series A round of financing of ForkOn and is acquiring an interest in cooperation partner

- The intended internationalization of the logistics start-up expands the potential sales area for Voltabox

- Starting at the end of October, the first joint solution in fleet management from Voltabox and ForkOn will be piloted

Delbrück, Germany, October 23, 2019 - Voltabox AG [ISIN DE000A2E4LE9] recently secured a stake in start-up ForkOn, an innovative supplier of fleet management systems for forklifts, in a pre-Series A round of financing. The young company has been a cooperation partner of Voltabox since the spring of this year.

As part of the recent pre-Series A round of financing, Voltabox has made use of the contractually guaranteed option to participate in the high-growth start-up. It was agreed not to disclose the purchase price. ForkOn strives to further develop and enhance its product range for the logistics market. The expansion of the current product portfolio is intended to further promote the internationalization of the start-up. This also allows Voltabox a greater range for the distribution of its lithium-ion battery systems.

"We were able to convince ourselves early on of ForkOn's promising business model and innovative market approach. Our proven high-performance lithium-ion battery solutions combined with ForkOn's intelligent, predictive software provide unmatched value to forklift fleet operators. Through the investment, we are now taking the next step together," says Jürgen Pampel, CEO of Voltabox AG.

Voltabox and ForkOn have been cooperating since spring 2019. After just over half a year of development, the first joint product from Voltabox and ForkOn, named ForkX ENERGY, will be used in fleet vehicles starting at the end of October. The intelligent battery management system integrated in the Voltabox battery systems provides deep insights into the respective usage profiles of the forklift trucks. In combination with the cloud-based and OEM-independent ForkOn software, fleet operators get detailed information on optimal charging times, the status of the battery, and recommendations for avoiding charging spikes. Customers thus benefit from an online-based energy management system that significantly improves cost efficiency. The goal of the collaboration between ForkOn and Voltabox is to take fleet management to the next level with the possibilities of intelligent, data-driven software and the power of lithium-ion battery technology.

About Voltabox AG

Voltabox AG (ISIN DE000A2E4LE9), which is listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange, is a rapidly growing system provider for e-mobility in industrial applications. Its core business lies in intrinsically safe, highly developed high-performance lithium-ion batteries that are modular and in serial production. The battery systems are primarily used in buses for public transportation, forklifts, automated guided vehicles and mining vehicles. The company also develops and produces high-quality lithium-ion batteries for select mass-market applications, such as high-performance motorcycles and pedelecs.

Voltabox has production sites at its headquarters in Delbrück, Germany, in Austin (Texas, USA), and in Kunshan, China, as well as development sites in Aachen and Markgröningen, Germany.

Additional information about Voltabox can be found at /en.

 

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