Weimar, 20 October 2021 – IBU-tec advanced materials AG (“IBU-tec”, ISIN: DE000A0XYHT5) begins production of its own LFP battery material following the expiry of an international patent. The product will be offered on the market under the name LFP 400. The areas of application for LFP 400 are diverse and range from use for batteries in e-cars, stationary energy storage, industrial trucks and boat motors to industrial and medical applications.
Since the beginning of the year, IBU-tec has been experiencing high demand for its own battery material. With the expiry of the patent, four initial orders have been received. Due to current high demand and the extensive stockpiling planned for the coming year, IBU-tec has also already secured additional raw material volumes and expanded its processing capacities. IBU-tec had secured a cooperation agreement with a major global player from the Asian cathode sector before the official sales launch of the product in June 2021. In August, IBU-tec also concluded a Letter of Intent (LOI) with the European cathode manufacturer Blackstone Technology. In order to adequately meet the expected high demand, IBU-tec will stock up accordingly with LFP 400 and build up inventories.
As part of the “IBU2025” strategy, IBU-tec’s own battery material will be a key sales and growth driver in the coming years. IBU-tec expects sales in the core segment of battery materials to increase more than tenfold by 2025. In this way, 25 to 30 percent of the Group’s total sales are to be generated in this area.
Ulrich Weitz, CEO of IBU-tec: “We are opening a new chapter at IBU-tec with the start of production of our LFP 400. The strong demand for the product in recent months speaks to the high quality of our Made in Weimar battery material. This not only covers a larger area of our value chain, but also positions us in the market as an important global player in the field of green technology.”
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 around 250 highly qualified employees.
Among other things, the products are important components of battery materials 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
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