DGAP-News: FUCHS strengthens e-mobility business and enters the battery market
DGAP-News: FUCHS PETROLUB SE
/ Key word(s): Investment
The FUCHS Group, which operates globally in the lubricants industry, has taken over 28 percent of the shares in E-Lyte Innovations GmbH. This young company develops and produces groundbreaking liquid electrolytes for high-performance batteries in the industrial and automotive sectors. "We are setting foot on new terrain outside the classic applications for lubricants. The world is changing rapidly and we don’t just want to keep pace, we want to actively meet the future: by entering a very exciting, globally fast-growing market with significant business potential," comments Stefan Fuchs, Chairman of the Executive Board, explaining the reasons behind the recent investment. "There is no longer one universal electrolyte for batteries and the differences between those available are becoming more and more pronounced. The rapidly developing battery technologies for a broad range of applications are causing skyrocketing demand for customized electrolyte formulas and ever larger production volumes. In order to cater for this, we need a local supply chain, not only because the electrolyte doesn't permit long delivery and storage times because of its limited shelf life," says Dr. Ralf Wagner, Managing Partner of E-Lyte Innovations GmbH. In the next step, the required production infrastructure will be established jointly at the FUCHS location in Kaiserslautern, Germany to facilitate industrialization, scaling, and further growth. Funds are in particular being invested in the production facilities and laboratory equipment. Production is scheduled to begin in the summer of 2023. German enterprise Customcells Holding GmbH, a leading international company in the development of special, high-performance lithium-ion battery cells, is the third partner in the joint venture. Mannheim, May 25, 2022 The following information can be accessed via the Internet: About FUCHS At the signing of the contract (from left): Dr. Stephan Röser (Head of Production E-Lyte Innovations GmbH), Kay-Peter Wagner (Managing Director FUCHS SCHMIERSTOFFE GmbH), Torge Thönnessen (Managing Director Customcells Holding GmbH), Stefan Knapp (Chairman of the Executive Board FUCHS SCHMIERSTOFFE GmbH), Dr. Ralf Wagner (Managing Director E-Lyte Innovations GmbH), Dr. Kolja Beltrop (Head of Research & Development E-Lyte Innovations GmbH)
25.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | FUCHS PETROLUB SE |
Einsteinstraße 11 | |
68169 Mannheim | |
Germany | |
Phone: | +49 (0)621 / 3802-0 |
Fax: | +49 (0)621 / 3802-7190 |
E-mail: | [email protected] |
Internet: | www.fuchs.com/gruppe |
ISIN: | DE000A3E5D64, DE000A3E5D56 |
WKN: | A3E5D6, A3E5D5 |
Indices: | MDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Tradegate Exchange |
EQS News ID: | 1360669 |
End of News | DGAP News Service |
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1360669 25.05.2022
Fuchs Petrolub SE VZO Stock
With 1 Sell predictions and 1 Buy predictions the community sentiment towards the Fuchs Petrolub SE VZO stock is not clear.
As a result the target price of 48 € shows a slightly positive potential of 8.84% compared to the current price of 44.1 € for Fuchs Petrolub SE VZO.