IBU-tec advanced materials AG / DE000A0XYHT5
23.01.2024 - 08:00:10IBU-tec enters into cooperation agreement with LANXESS / Development of a European iron oxide product for LFP battery material
| IBU-tec advanced materials AG / Key word(s): Alliance 23.01.2024 / 08:00 CET/CEST The issuer is solely responsible for the content of this announcement. Corporate News Targeting the development of an European value chain Use of European iron oxide planned in IBU-tec battery materials Improved CO2 footprint through the use of local raw materials Further joint activities in the field of LFP battery materials and along the value chains of IBU-tec and LANXESS agreed Weimar, January 23, 2024 – IBU-tec advanced materials AG (ISIN: DE000A0XYHT5) has signed a cooperation agreement with specialty chemicals company LANXESS. The two companies will collaborate to develop an innovative European iron oxide product, which will serve as a crucial component in the production of enhanced LFP battery materials. Any resulting patents will be filed jointly by LANXESS and IBU-tec. The agreement between IBU-tec and LANXESS also marks the beginning of additional joint activities to develop innovative European battery materials. LANXESS is one of the world's leading manufacturers and operates one of the largest production facilities for synthetic iron oxides in Germany. The innovative iron oxide product from IBU-tec and LANXESS is specifically manufactured for LFP production in Europe. Currently, these raw materials are primarily sourced from China. However, by sourcing iron oxide from Germany, the CO2 footprint can be significantly reduced. The partnership between IBU-tec and LANXESS enables a sustainable and predominantly European value chain. IBU-tec will use the iron oxide product in its own battery materials. Jörg Leinenbach, CEO of IBU-tec: "With LANXESS, we are gaining one of the large, globally positioned chemical companies as a strong partner in the battery sector. With the joint product development, we are pooling our know-how and will drive the development of the European LFP battery market and establish an independent value chain. We see the cooperation as an important step on the way to market development. IBU-tec will provide information on further material developments in the battery sector with new application possibilities on January 29." Michael Ertl, head of the Inorganic Pigments business unit at LANXESS: "As currently the only European manufacturer of LFP cathode materials, IBU-tec is the ideal partner for us to develop the new material, which is a key component for batteries in electric cars and stationary energy storage systems. In this way, we are making an important contribution to sustainability and the development of a European value chain in the field of battery materials." About IBU-tec The IBU-tec Group develops and produces innovative materials of the highest quality for industry. In doing so, it combines unique, partly patent-protected thermal process engineering technology with the process and material know-how of around 250 highly qualified employees. The company's own products include LFP battery material, which is an important component of batteries for electromobility and stationary energy storage, as well as solutions for air purification, resource conservation and the reduction of plastic packaging. IBU-tec is thus positioned for the long term in global megatrends – especially climate and environmental protection – and has an international customer base ranging from innovative medium-sized companies to global corporations. Contact edicto GmbH Axel Mühlhaus Eschersheimer Landstraße 42-44 60322 Frankfurt t +49 69 905505-52 IBU-tec@edicto.de 23.01.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
| Language: | English |
| Company: | IBU-tec advanced materials AG |
| Hainweg 9-10 | |
| 99425 Weimar | |
| Germany | |
| Phone: | +49 (0)3643 - 8649-0 |
| Fax: | +49 (0)3643 - 8649-30 |
| E-mail: | mail@ibu-tec.de |
| Internet: | www.ibu-tec.de |
| ISIN: | DE000A0XYHT5 |
| WKN: | A0XYHT |
| Indices: | Scale 30 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1820515 |
| End of News | EQS News Service |
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