Weimar, 21 December 2021 – IBU-tec advanced materials AG (“IBU-tec”, ISIN: DE000A0XYHT5) has received the first order from a cathode manufacturer just a few weeks after the start of production of its own battery material LFP400. The resulting turnover for IBU-tec is in the six-digit euro range. This is the first time that the company from Thuringia is delivering a significant amount of its own LFP material, which is used directly for cathode production and not for qualification purposes. Delivery to the globally active customer will take place in the short term by the end of the year.
With this delivery, IBU-tec is continuing its growth in the field of battery materials in line with its strategy. The company’s own battery material is the No. 1 growth driver for the IBU-tec Group, followed by glass coating and recycling. By 2025, the core segment of battery materials is expected to generate 25 to 30 percent of the Group’s total sales.
Ulrich Weitz, CEO of IBU-tec: “We are pleased to be able to record such a success for our own battery material shortly before the end of the year. Even before the official start of production, our product was met with great market interest. The recent sales success now confirms our market expectations and is proof of the good quality of LFP400. We are thus taking another important step towards sustainably strengthening our position in the global growth market for battery technologies.”
The IBU-tec Group develops and produces innovative materials of the highest quality for industry. It combines unique, partly patent-protected technology of thermal process engineering with the process and material know-how of circa 250 highly qualified employees.
Its 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 or the reduction of plastic packaging. IBU-tec is thus positioned in the long term for 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
Eschersheimer Landstrasse 42-44
60322 Frankfurt, Germany
t +49 69 905505-52