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MarketScreener Homepage  >  Equities  >  Xetra  >  Akasol AG    ASL   DE000A2JNWZ9

AKASOL AG

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AKASOL AG: AKASOL develops second-generation lithium-ion battery systems for Mercedes-Benz' eCitaro

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07/16/2018 | 05:05am EDT

DGAP-News: AKASOL AG / Key word(s): Miscellaneous
AKASOL AG: AKASOL develops second-generation lithium-ion battery systems for Mercedes-Benz' eCitaro

16.07.2018 / 10:00
The issuer is solely responsible for the content of this announcement.


Darmstadt, 16 July 2018

Same space, much wider range:

AKASOL develops second-generation lithium-ion battery systems for Mercedes-Benz' eCitaro?
  • Serial production of AKASOL's first-generation battery systems will begin in autumn / Ten battery packs with 243 kilowatt hours per vehicle
  • In 2020 second-generation battery systems will contribute to a range increase for the fully-electric bus / 330 kilowatt hours while requiring exactly the same constructed space
  • AKASOL's CEO Sven Schulz has welcomed this "long-term partnership"

Daimler Buses' and AKASOL's long-term cooperation for the development and mass-production of battery systems for the electric bus eCitaro is going from strength to strength. In autumn, serial production of the first-generation battery system AKASYSTEM OEM will begin in Langen (Hesse, Germany) as planned. Meanwhile, AKASOL is starting to develop second-generation lithium-ion battery systems in close cooperation with Daimler Buses. Being upwards compatible, these will offer about 35 percent more energy and contribute to an improved range in 2020.

Instead of currently 25 kilowatt hours storage capacity per battery pack, the second generation will be able to store 33 kilowatt hours per battery pack. This means an increase of 35 percent from 243 to 330 kilowatt hours per vehicle while maintaining the same constructed space, weight and upwards compatibility. This is made possible thanks to the unique, flexible system architecture that AKASOL offers its clients. According to Daimler Buses this technology leap, in conjunction with other factors, contributes to an increase of the vehicle's range to approximately 200 kilometres (SORT2 cycles, medium traffic) and up to 250 kilometres when operating under ideal circumstances.

"In addition to improved battery cells many other small optimisations, for instance in the battery management system and the mechanical architecture, contribute to the improvements of the second-generation systems", explains AKASOL's CEO Sven Schulz. "Since the beginning of our partnership in 2015 we have developed great mutual trust, which we see as a wonderful acknowledgement of our products and company. Having been tasked with the second generation even before starting serial production on the first type, is a good sign."

The lithium-ion battery systems of both generations are able to charge rapidly (at up to 300 kilowatt) and supply energy to additional units such as air conditioning and electrical systems. The key factor for providing robustness and durability is AKASOL's efficient water-cooling which guarantees stable tempering at 25 degrees Celsius and allows battery-run buses to operate in all climates. The high-performance battery systems are partly mounted on the roof, partly in the rear.

AKASOL has developed and distributed a variety of battery systems for electric and hybrid electric buses for many years. In addition to EvoBus, one of AKASOL's clients of series produced battery systems for buses is a Swedish bus and truck manufacturer. Buses using AKASOL's innovative battery technology are in daily operation in London, Berlin, Cologne and Braunschweig amongst others.

Pictures and footage for this press release are available here: http://bit.ly/Akasol_Press_Kit

"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."

 

About AKASOL

AKASOL is a leading European manufacturer of lithium-ion battery systems that are market ready to deliver safe, reliable and compliant power at scale for global electric transport. With nearly 30 years of German engineering, testing and manufacturing experience, AKASOL delivers safe battery systems for major players in the commercial transport sector. Current clients include Daimler EvoBus, VDL Bus & Coach, Alexander Dennis, Alstom, Bombardier and Bucher Municipal.

In 2017 AKASOL has opened a new battery systems facility in Langen with an annual capacity of 300 MWh. 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. The facility is planned to be expanded to 600 MWh by 2020.

Since 29 June 2018 AKASOL is listed on the Frankfurt Stock Exchange. Its successful stock market launch has made considerable capital available to support the continued growth of the company, in particular expansion of their production capacity in Germany and the USA, as well as assuring technology leadership for high-performance lithium-ion battery systems in the future through numerous new developments and further development of current technology.

The Darmstadt based company's executive board is led by Sven Schulz (CEO) and Dr Curt Philipp Lorber (CFO). Co-founders are Felix von Borck, Dr Björn Eberleh and Stephen Raiser.

Further information: www.akasol.com
 

Further information:

AKASOL AG, Katja Steinhauser

Landwehrstraße 55, D-64293 Darmstadt     

Tel.: +49 6151 80 05 00-140


katja.steinhauser@akasol.com

www.akasol.com
Press and public relations:

Life Size Media, Martin Jendrischik

Akazienstraße 3A, D-10823 Berlin

Tel.: +49 151 23 91 57 80


martin@lifesizemedia.de

www.lifesizemedia.de
 

 



16.07.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: AKASOL AG
Landwehrstrasse 55
64293 Darmstadt
Germany
Phone: +49 6151/800 500
E-mail: info@akasol.com
Internet: www.akasol.com
ISIN: DE000A2JNWZ9
WKN: A2JNWZ
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange

 
End of News DGAP News Service

704715  16.07.2018 

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© EQS 2018

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Sales 2020 72,6 M 84,8 M 84,8 M
Net income 2020 -3,39 M -3,96 M -3,96 M
Net Debt 2020 3,27 M 3,81 M 3,81 M
P/E ratio 2020 -94,5x
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Capitalization 280 M 327 M 327 M
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Nbr of Employees 256
Free-Float 42,1%
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Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 51,40 €
Last Close Price 46,25 €
Spread / Highest target 51,4%
Spread / Average Target 11,1%
Spread / Lowest Target -35,1%
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Managers
NameTitle
Sven Schulz Chief Executive Officer
Christoph Reimnitz Chairman-Supervisory Board
Carsten Bovenschen Chief Financial Officer
Marie-Luise Wolff-Hertwig Vice Chairman-Supervisory Board
Christian Brenneke Member-Supervisory Board
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