PRESS RELEASE : Launch of EKPO Fuel Cell Technologies

DGAP-News: ElringKlinger AG / Key word(s): Alliance 
Launch of EKPO Fuel Cell Technologies 
2021-03-01 / 13:58 
The issuer is solely responsible for the content of this announcement. 
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Dettingen/Paris, March 1, 2021 
Launch of EKPO Fuel Cell Technologies 
  . New company, jointly owned by ElringKlinger and Plastic Omnium, ready to supply fuel cell stacks and components for 
    broad range of applications 
  . Initial annual production capacity of up to 10,000 stacks already available 
  . In parallel, Plastic Omnium takes ownership of ElringKlinger's subsidiary for integrated hydrogen systems to 
    complement its global hydrogen strategy 
EKPO Fuel Cell Technologies, the joint venture of ElringKlinger (60%) and Plastic Omnium (40%), is now ready to start 
operations, having implemented all contractual arrangements and been granted the necessary antitrust approvals. The 
newly created company offers best-in-class and cost-competitive fuel cell stacks and components for a broad range of 
applications. Initially, the company will focus on commercial vehicles and buses and then on passenger cars. Special 
vehicles, trains, and ships are also fields of the growth potential. 
Commenting on EKPO's launch, the two CEOs of the parent groups, Dr. Stefan Wolf and Laurent Favre, said, "We are 
pleased that business is now underway. We see tremendous market potential ahead of us and are determined to achieve our 
revenue target of EUR 700 million to EUR 1 billion in 2030. Our commercial pipeline is very strong and production 
capacity is in place. In addition, we can build on compelling technology, centered around high power density, in our 
efforts to translate our joint vision into reality. By successfully establishing fuel cell drives, we make our 
contribution on the road to emission-free mobility." 
The company site in Dettingen/Erms, Germany, is already able to produce up to 10,000 fuel cell stacks per year 
according to automotive industrial standards as well as key components of a stack, such as bipolar plates or media 
modules. In the coming years, EKPO will drive investments for accelerating innovation, extending the commercial 
pipeline, and increasing production capacity, with the aim to achieve a market share of 10 to 15% in 2030. 
The joint venture is headed by a group of three general managers. Armin Diez (58), previously in charge of 
ElringKlinger's fuel cell business, is responsible for the technical and operational activities. Julien Etienne (43) 
from Plastic Omnium New Energies is in charge of sales, marketing, and program management. Dr. Gernot Stellberger (41), 
Head of Global Strategy, M&A, and Innovations at ElringKlinger, is responsible for financial and strategic tasks. 
As part of the agreement signed in October 2020, Plastic Omnium also acquires ElringKlinger Fuelcell Systems Austria 
GmbH (EKAT), ElringKlinger's subsidiary specialized in integrated hydrogen systems. With this acquisition, Plastic 
Omnium complements its expertise in energy management and control of hydrogen systems. 
 
For further information, please contact: 
ElringKlinger AG                      Compagnie Plastic Omnium SE 
Strategic Communications              VP Investor Relations 
Dr. Jens Winter                       Philippine de Schonen 
Phone: [phone]             Phone: [phone] 
E-mail: [e-mail] E-mail: [e-mail] 

About ElringKlinger

As an independent and globally positioned supplier, ElringKlinger is a powerful and reliable partner to the automotive industry. Be it passenger car or commercial vehicle, equipped with an optimized combustion engine, with hybrid technology or with an all-electric motor, the Group offers innovative solutions for all types of drive system. Developing cutting-edge battery and fuel cell technology as well as electric drive units, ElringKlinger was among the frontrunners when it came to positioning itself as a specialist in the field of e-mobility. Alongside its proprietary fuel cell stacks, ElringKlinger is acknowledged in particular for its innovative fuel cell components, including patented designs for metallic bipolar plates and plastic media modules that complement the product range. ElringKlinger PEMFC stacks provide exceptional performance characteristics, thus setting an international benchmark: With an electrical output of up to 200 kW[el] and a volumetric power density of up to 6 kW/l, the NM12 fuel cell stacks are suitable for use in both passenger cars and commercial vehicles as well as in other applications requiring a high level of performance. The smaller NM5 fuel cell stacks provide an electrical output of 6 to 73 kW[el]. Moreover, the Group provides sealing technology, shielding systems and lightweight products around the engine and the body structure of a vehicle. These efforts are supported by a dedicated workforce of around 10,000 people at 45 ElringKlinger Group locations around the globe.

About Plastic Omnium

Around the world, Plastic Omnium provides carmakers with innovative solutions for more connected and sustainable mobility. A global leader in its three businesses, the Group develops and produces intelligent exterior systems, clean energy systems and customized complex modules. With an international footprint of 135 plants, 25 R&D centers and a 2,200 patent portfolio, Plastic Omnium relies on its 31,000 employees to meet the challenges of clean and smart mobility.

Innovation-driven since its creation, Plastic Omnium is now paving the way for the zero carbon car through its investments in hydrogen solutions, for which the Group has ambitions to become world leader throughout the entire value chain. -----------------------------------------------------------------------------------------------------------------------

2021-03-01 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:      ElringKlinger AG 
              Max-Eyth-Straße 2 
              72581 Dettingen/Erms 
              Germany 
Phone:        071 23 / 724-0 
Fax:          071 23 / 724-9006 
E-mail:       [e-mail] 
Internet:     www.elringklinger.de 
ISIN:         DE0007856023 
WKN:          785602 
Indices:      SDAX 
Listed:       Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, 
              Dusseldorf, Hamburg, Hanover, Munich, Tradegate Exchange 
EQS News ID:  1171983 
 
End of News   DGAP News Service 
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1171983 2021-03-01

(END) Dow Jones Newswires

March 01, 2021 08:01 ET (13:01 GMT)