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PRESS RELEASE: AKASOL AG: Securing Future Growth: AKASOL Finalizes Outside Financing Package of Nearly EUR 60 Million

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DGAP-News: AKASOL AG / Key word(s): Financing
AKASOL AG: Securing Future Growth: AKASOL Finalizes Outside Financing
Package of Nearly EUR 60 Million

2019-11-07 / 13:35
The issuer is solely responsible for the content of this announcement.

*Securing Future Growth: AKASOL Finalizes Outside Financing Package of
Nearly EUR 60 Million *

? *Volume of nearly EUR 60 million over mid-term durations *

? *Individual loans from BW Bank, Commerzbank and Deutsche Bank for
**general financing and to finance construction of the new headquarters *

? *Building on AKASOL's role as technology leader by optimizing the
**innovation roadmap *

? *The banks grant attractive terms, a reflection of AKASOL's top-shelf
creditworthiness and confidence in its business model *

Darmstadt, November 7, 2019 ? AKASOL AG ("AKASOL"; ISIN DE000A2JNWZ9), a
leading German developer and manufacturer of high-performance lithium-ion
battery systems for commercial vehicles, has successfully negotiated an
outside financing package with a total volume of nearly EUR 60 million, in
the form of multiple loan agreements, to finance growth over the course of
2019. The package includes conventional bank loans for small and mid-sized
enterprises from Deutsche Bank, Commerzbank and BW Bank as well as KfW
Development Bank subsidies for energy-efficient construction. Together with
the unchanged high equity resources from the IPO proceeds this dept package
will be used for general financing of short- and mid-term growth and to
finance construction of the new corporate headquarters in Darmstadt.

Taking this step to secure additional liquidity by means of a loan package
will allow AKASOL AG to optimize its financing components, create a more
reliable basis for planning and structure its liabilities in a more balanced
fashion. Along with the expected improvement in mid-term earnings, the
planned measures to improve working capital and the maintenance of a
disciplined investment approach, this move reflects the company's focus on
significantly improving its operating free cash flow. "The agreements we
concluded with the three large banks will allow us to optimize our financing
in the near term. In addition to the high equity resources from the IPO
proceeds this in turn will give us the financial flexibility we will need to
play an active role in shaping the transformative process in electric
mobility while also strengthening our liquidity and earnings position. The
attractive terms of the individual loans are an expression of our top-shelf
creditworthiness and the strong confidence in AKASOL," explained Carsten
Bovenschen, the CFO of AKASOL AG.

In addition to building on its role as technology leader in the area of
high-performance lithium-ion battery systems for the commercial vehicle
sector by working diligently to optimize the innovation roadmap, a clear
focus of investments in the coming months will be the construction of
AKASOL's new headquarters, which will include automated production
facilities for next-generation high-performance battery systems. Bovenschen
went on to say that, "our dynamic growth requires us to substantially
increase our production capacity, expand our testing and development centers
and add office space. Our new corporate headquarters in Darmstadt will offer
the best possible working conditions for the development and serial
production of next-generation high-performance battery systems. Our storage
solutions will meet the highest standards and will be an integral component
in electric commercial vehicles for a long time to come." Demand for
AKASOL's technology is already very strong, as demonstrated by the orders on
hand, which are currently around EUR 2 billion.


AKASOL AG, Isabel Heinen

Phone: +49 (0) 6151 800500-193 I Email: isabel.heinen@akasol.com

*About AKASOL*

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 two of the world's leading commercial vehicle
manufacturers, 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.


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.

This document does not constitute an offer or a recommendation to subscribe
to or acquire securities of AKASOL AG. This announcement does not constitute
an offer of securities for sale in the United States of America. Securities
may not be offered or sold in the United States of America without
registration or an exemption from registration in accordance with the
current version of the U.S. Securities Act of 1933.

2019-11-07 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
EQS News ID: 907557

End of News DGAP News Service

907557 2019-11-07

(END) Dow Jones Newswires

November 07, 2019 07:35 ET ( 12:35 GMT)

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