Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  Equities  >  Xetra  >  Akasol AG    ASL   DE000A2JNWZ9


SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

Major Order for Electric Buses and Trucks: AKASOL Expands Framework Agreement with Swedish Commercial Vehicle Manufacturer

share with twitter share with LinkedIn share with facebook
02/06/2019 | 03:55pm EDT

DGAP-News: AKASOL AG / Key word(s): Incoming Orders
Major Order for Electric Buses and Trucks: AKASOL Expands Framework Agreement with Swedish Commercial Vehicle Manufacturer

06.02.2019 / 20:50
The issuer is solely responsible for the content of this announcement.

Major Order for Electric Buses and Trucks:
AKASOL Expands Framework Agreement with Swedish Commercial Vehicle Manufacturer

  • Existing cooperation with Swedish bus and truck manufacturer to be significantly expanded
  • AKASOL receives follow-up order to supply next-generation battery systems by the end of 2023
  • Order volume in the mid to high three-digit million-euro range

Darmstadt, February 6, 2019 - AKASOL AG ("AKASOL"; ISIN DE000A2JNWZ9), a leading German producer of high-performance lithium-ion battery systems, is expanding its long-term framework agreement to supply a Swedish commercial vehicle manufacturer with high-performance battery systems for electric buses and trucks. By the end of 2023, the Darmstadt-based company will supply second-generation lithium-ion battery systems from the Langen facility as well as from the planned new facility in the USA.

From 2020, the customer will receive the second generation of high-performance battery systems for buses and trucks. These systems achieve 30 percent more energy density and thus more range with the same weight and installation space. In addition, the battery systems are capable of fast-charging, which is a specific need of the customer.

"With the continuous improvement of our battery systems, we are gradually expanding the possible applications for electric buses and commercial vehicles. Short- and medium-haul trucks are now being added to the electric city bus at an impressive pace, as the follow-up order from Sweden underscores. We are proud that we can continue to be trusted by our customers and thus continue to grow dynamically," commented Sven Schulz, CEO of AKASOL AG, on the new framework agreement. "Another positive effect of the cooperation is the massive reduction of CO2 emissions through the electrification of thousands of commercial vehicles and buses. This order alone can reduce CO2 emissions by 50 percent, or around 300,000 t per year based on the current electricity mix. The air quality in the cities using these electric vehicles will improve noticeably."

Carsten Bovenschen, CFO of AKASOL AG: "The signing of the expanded framework agreement with our long-standing customer is a major milestone for our company. Through the new contract, we have aligned further cooperation in a sustained manner over the long term. The order volume supports the planned growth and safeguards our order backlog at a high level. For this reason, we have partially brought forward planned investments in organization, infrastructure and production capacities in order to realize our sustainable expansion and the ramp-up of series production in our semi-automated production facility in Langen near Frankfurt/Main."

In addition, the expansion of further cooperation confirms the customer's satisfaction with the first generation of the high-performance lithium-ion battery system AKASystem OEM delivered. The liquid-cooled battery system is the heart of the electric powertrain, which instills confidence with its reliable efficiency.


AKASOL AG, Isabel Heinen

Phone: +49 (0) 6103 48567-26 I Email: isabel.heinen@akasol.com


AKASOL is a leading German manufacturer of high-performance lithium-ion battery systems for buses, commercial vehicles, rail vehicles, industrial vehicles, ships and boats. With almost 30 years of experience AKASOL is a pioneer in the development and manufacture of lithium-ion battery systems for commercial applications. 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 production facility in Langen (Hesse) with an annual production capacity of up to 300 MWh, which will be expanded to 800 MWh by 2020. According to AKASOL, this is Europe's largest lithium-ion battery system production plant for commercial vehicles, which can currently produce battery systems per year for up to 1,500 fully electric buses or for up to 3,000 medium-sized commercial vehicles, depending on battery size. AKASOL systems are manufactured according to the requirements of the industry standards of leading OEM customers. Current customers include Daimler, a Scandinavian bus and truck manufacturer, Alstom, Bombardier, Rolls-Royce Power Systems (MTU Friedrichshafen) and several more. AKASOL has a technology-independent product portfolio. This allows the company to use the best battery cells and battery chemistry according to the clients' individual needs.

06.02.2019 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
Phone: +49 6151/800 500
E-mail: info@akasol.com
Internet: www.akasol.com
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange

End of News DGAP News Service

773411  06.02.2019 

© EQS 2019

share with twitter share with LinkedIn share with facebook
All news about AKASOL AG
10/20AKARACK 48-VOLT BATTERY SYSTEM : AKASOL launches serial production in new Gigafa..
10/15AKASOL AG : Release according to Article 40, Section 1 of the WpHG [the German S..
10/07FOLLOWING RECORD CONSTRUCTION TIME : AKASOL AG moves into new headquarters in Da..
09/30AKASOL AG : Release according to Article 40, Section 1 of the WpHG [the German S..
08/24AKASOL AG : Revenue growth in Q2 in spite of COVID-19 - strong second half of th..
08/20AKASOL : drives dynamic growth in the US and places follow-up order for delivery..
08/17AKASOL AG : Preliminary announcement of the publication of financial reports acc..
07/15AKASOL AG : Release according to Article 40, Section 1 of the WpHG [the German S..
07/07CITIGROUP GLOBAL MARKETS LIMITED : Pre Stabilisation Notice
06/30AKASOL AG : First virtual Annual General Meeting of AKASOL AG completed successf..
More news
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
Yield 2020 -
Capitalization 280 M 327 M 327 M
EV / Sales 2020 3,91x
EV / Sales 2021 1,92x
Nbr of Employees 256
Free-Float 42,1%
Duration : Period :
Akasol AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AKASOL AG
Short TermMid-TermLong Term
Income Statement Evolution
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%
EPS Revisions
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
Sector and Competitors
1st jan.Capitalization (M$)
AKASOL AG34.25%327