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PRESS RELEASE: AKASOL places another order for the delivery of automated production equipment for the new Gigafactory 1 in Darmstadt

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DGAP-News: AKASOL AG / Key word(s): Expansion
AKASOL places another order for the delivery of automated production
equipment for the new Gigafactory 1 in Darmstadt

2020-04-21 / 07:30
The issuer is solely responsible for the content of this announcement.

*AKASOL places another order for the delivery of automated production
equipment for the new Gigafactory 1 in Darmstadt*

· *Cooperation agreement signed with Woll Maschinenbau GmbH from
Saarbrücken *

· *Production equipment for highly automated production of
ultra-high-energy battery systems in the new Gigafactory 1 to be delivered
starting in early 2021 *

· *Investment volume in the low double-digit million euro range*

· *The agreement includes an option for the delivery of additional
equipment for Gigafactory 2 in Hazel Park (USA) *

Darmstadt/Saarbrücken, April 21, 2020 - AKASOL AG ("AKASOL"; the "Company";
ISIN DE000A2JNWZ9), a leading German developer and manufacturer of
high-performance lithium ion battery systems, has commissioned Woll
Maschinenbau GmbH, a highly experienced and globally operating company from
Saarbrücken, with the development and supply of highly automated production
equipment for the Gigafactory 1 at its new site in Darmstadt. The new
equipment will be used to manufacture the new AKASystem AKM CYC
ultra-high-energy battery systems starting in mid-2021. The total investment
volume for the project will be in the low double-digit million euro range,
including an option for additional production lines in AKASOL's Gigafactory
2 in Hazel Park, Michigan, as well as for the further expansion of the
Darmstadt production site.

In response to follow-up orders from long-standing serial customers, AKASOL
had already increased production capacity at its Langen site in March with
the installation of second production line to up to 800 MWh, more than
doubled relative to 2019. The Company will now continue to build up
production capacity with the construction of Gigafactory 1 at its new
headquarters in Darmstadt in order to cope with the dynamic growth expected
in the coming years. From mid-2021 onwards, this new site will commence
serial production of AKASOL's third-generation battery system, the
ultra-high energy AKASystem AKM CYC. Compared to the first generation of the
battery systems, the new system has double the amount of energy with the
same amount of space and weight, and thus enables the highest range
requirements of up to 800 kilometers in fully electric buses and commercial
vehicles.

As recently as early February, AKASOL commissioned Manz AG in Reutlingen to
develop and supply fully automated production equipment for the production
of ultra-high-energy battery modules. AKASOL has now reached an agreement
with Woll, which specializes in mechanical engineering, to develop and
supply a highly automated production line for the manufacture of its new
ultra-high-energy battery systems, equipped with ten of these modules. The
Saarbrücken based company has decades worth of expertise in with the
implementation of complex requirements in automated production processes and
has been engaged in the production of battery modules and systems for some a
few years now, making it one of Germany's technology leaders in this field.
"Continually increasing the degree of automation in serial production is of
high importance in order to allow us to meet our customers' growing demand
for production-ready high-energy battery systems. With the new equipment, we
will be in a position to build up our production capacity in Gigafactory 1
in Darmstadt to as high as 5 GWh. We are therefore pleased that we have been
able to secure an arrangement with Woll, a strong and experienced mechanical
engineering company, to supply our new production site with flexible and
highly automated production equipment. We can use this equipment to commence
serial production of our revolutionary new AKASystem AKM CYC
ultra-high-energy battery systems with a very high quality as we continue to
build upon our leading role as a strategically important and reliable
partner for the rapid electrification of the commercial vehicle market,"
said Sven Schulz, the CEO of AKASOL AG.

The highly automated production line will manufacture up to 70
ultra-high-energy battery systems a day, each with a storage capacity of
about 100 kWh. The fully automated work steps - from the insertion of
individual battery modules through to the screwing of the approx. 500 kg
"light" finished battery systems - are linked to Industry 4.0-compatible
human-machine manual workstations across the production line with a total
length of 100 meters. "This flexible production capability allows us to use
the same production line to manufacture other customized products based on
the same battery system type," explained Sven Schulz. He also pointed out
that the existing line's cycle time can be reduced if necessary to as low as
10 minutes per battery system by making further investments in automation
solutions. "As a result, we have the potential to raise output to as high as
126 systems per day, for a storage capacity of 12.5 MWh per day. This
capacity would allow electric buses or trucks to travel more than 8,000 km."

The new Gigafactory 1 will have enough space for installation of a second
production line of the same type. As a result, annual production capacity at
the Darmstadt site could be increased to as high as 5 GWh in the future.
Sven Schulz explained: "With Gigafactory 1 in Darmstadt, AKASOL will have by
far the largest production capacities for commercial vehicle battery systems
in Europe. The resulting scaling effects will benefit both our existing
customers and new customers in the future to a considerable degree. As a
result, AKASOL will be able to build upon its position not only as a
technology leader but also in relation to the competitive market."

*Contact:*

AKASOL AG, Isabel Heinen

Phone: +49 (0) 6151 800500-193

E-Mail: 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 have been traded on the
Prime Standard segment of the Frankfurt Stock Exchange since 29 June 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 produce battery systems for up to 3,000 fully electric buses or for up
to 6,000 medium-sized commercial vehicles per year from 2020, 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.

*DISCLAIMER*

Statements contained herein may constitute "forward-looking statements".
Forward-looking statements are generally identifiable by the use of words
such as "may", "will", "should", "plan", "expect", "anticipate", "estimate",
"believe", "intend", "aim" 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.

2020-04-21 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, Hamburg, Munich,
Stuttgart, Tradegate Exchange
EQS News ID: 1025849

End of News DGAP News Service

1025849 2020-04-21



(END) Dow Jones Newswires

April 21, 2020 01:30 ET ( 05:30 GMT)
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