New customer in bus segment
Further expansion in the bus sector: AKASOL concludes long-term framework agreement in the mid-double-digit million euro range with the largest Turkish commercial vehicle manufacturer


AKASOL AG has signed a strategically important framework agreement with Turkey’s largest commercial vehicle manufacturer. The total volume of the agreement is in the mid-double-digit million euro range. From 2021 to 2025, the Company will supply the second and third generation of its high-energy battery systems for one existing and one new bus type manufactured by the customer, thereby expanding its customer portfolio.

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Quarterly Statement Q3 2020


Strong growth in Q3 2020 – Revenue at EUR 40.6 million for the nine-month period 2020 and despite Corona crisis almost 30 % above previous year

AKASOL AG continued the expected and announced upturn in business in the third quarter of 2020, successfully remaining on course for growth. Compared to its revenue of EUR 18.2 million in the first half of the year, the Company generated revenue of EUR 22.3 million during the third quarter alone, achieving more than a doubling of revenue within the current year.

Successful certification


AKASOL AG certified under IATF 16949, the world’s leading quality standard for the automobile industry

AKASOL AG has been certified under IATF 16949, the most important international automotive standard. The certification attests that the Darmstadt-based company has a comprehensive and extremely efficient quality management system that covers all areas of the value chain, guaranteeing the highest standards as well as innovation and premium quality across the entire supply chain.

AKARack serial production


AKARack 48-volt battery system: AKASOL launches serial production in new Gigafactory 1 in Darmstadt, Germany

The AKASOL AG has launched serial production of the AKARack 48-volt battery system in its Gigafactory 1 at the Company’s new headquarters in Darmstadt. The compact serial solution is thus not only the first battery system to be manufactured at the Company's new site: By launching production of the AKARack for a globally operating manufacturer of construction machinery, AKASOL ushers in a new era for quick and easy electrification of innovative, highly efficient and environmentally friendly commercial vehicles. The move is appealing mainly for the system’s scalability and flexibility and expands AKASOL’s customer base in the process.

New Headquarters & Gigafactory 1


Following record construction time: AKASOL AG moves into new headquarters in Darmstadt as planned and launches serial production in the new Gigafactory 1

After a record construction time of only 15 months, AKASOL AG has laid another important cornerstone for dynamic growth and moved into its new headquarters in the southwest of Darmstadt. The move marks the launch of serial production of the first battery systems on production lines already in place in Gigafactory 1, which is part of the AKASOL campus. Beginning in mid-2021, the Company will have a production capacity of 2.5 GWh available, which can be expanded up to 5 GWh depending on business development.

DNV-GL certification


Safe electrification for shipping: AKASOL AG receives important DNV-GL certificate

AKASOL has obtained DNL-GL certification for its model AKASystem 15 OEM 37 PRC series of battery systems. Effective immediately, this battery system is unconditionally approved for use in maritime applications. The quality seal is issued by the Norwegian Det Norske Veritas (DNV) and Germanischer Lloyd (GL), who have been setting standards together for ships and offshore applications since 2013. With this DNV-GL certification, AKASOL is laying a broad foundation for all future battery systems that will also gradually find application in shipping.

Half-Year Financial Report 2020


Revenue growth in Q2 in spite of COVID-19 – strong second half of the year expected

AKASOL records revenue growth of 27.5% compared to the first three months of the year, in spite of economic effects in the second quarter, and reached decisive milestones for continued, sustainable growth. In addition to the planned massive expansion of production capacities, important projects for the further development of existing and new products were also advanced, to further strengthen AKASOL’s technological leadership in the field of high-performance lithium-ion battery systems for the commercial vehicle market.



AKASOL drives dynamic growth in the US and places follow-up order for delivery of fully automated production plant for the US site in Hazel Park

AKASOL is once again expanding its production capacity at the US location in Hazel Park: From 400 MWh to around 2 GWh. The background here involves long-term supply contracts with a global commercial-vehicle manufacturer that will outfit its US brands and vehicle types with new, high-energy battery systems by AKASOL beginning in 2021.

Annual General Meeting 2020


First virtual Annual General Meeting of AKASOL AG completed successfully

Darmstadt, June 30, 2020 – Today, Tuesday, AKASOL AG held their 2020 Annual General Meeting. In the face of the coronavirus pandemic, the Company took advantage of the opportunities offered by the legislature and held the shareholders’ meeting in virtual form. 66% of the Company’s share capital was represented at this year’s gathering.

Quarterly Statement Q1 2020


AKASOL increases its overall performance in the first quarter of 2020, achieving important milestones for capacity expansion

AKASOL made further advances on its path to expansion in the first quarter of 2020 and increased total output to EUR 12.9 million in the first quarter of 2020, which was already noticeably affected by the negative impact of the COVID-19 pandemic. Due to the relatively high demand from existing and new customers despite the coronavirus crisis, the order backlog was at a consistently high level of around EUR 2 billion through 2027 as of the March 31, 2020, reporting date.

Annual Financial Report 2019


AKASOL AG finishes 2019 with strong growth - confident of unbroken dynamic business development

AKASOL once again posted strong growth in 2019: revenues more than doubled compared to the previous year, climbing by around 120% to EUR 47.6 million (2018: EUR 21.6 million). Along with a sharp increase in order backlog to EUR 2 billion and the fact that customer demand for innovative energy storage solutions has remained stable so far despite the coronavirus crisis, this result underscores the fact that the company is continuing to grow at a dynamic pace. AKASOL's consolidated revenues in the past financial year slightly exceeded the revenue forecast, which was EUR 43 to 46 million in November 2019.

Order production lines


AKASOL places another order for the delivery of automated production equipment for the Gigafactory 1

AKASOL 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.

Current developments


Serial production, prototype and sample construction continue

AKASOL will maintain its serial production as well as prototype and sample construction for the time being, despite the current corona crisis, with stricter hygienic and health safety precautions for employees. Even if some of the Company's serial customers have set up breaks due to the current COVID-19 developments and will not produce any vehicles in the next few weeks, the AKASOL Management Board anticipates a considerable catch-up effect after the crisis due to unchanged forecasts and vehicle orders from its customers.

Production in Langen


Production capacity in Langen is more than doubled – second production line goes into operation six months ahead of schedule

AKASOL has commissioned its second serial production line for lithium-ion battery systems at its Langen, Germany, production site – six months ahead of schedule. With the implementation of the second production line, the Company has more than doubled its annual maximum production capacity in Langen, compared to 2019, to up to 800 MWh. This is an important prerequisite to meeting growing customer demand for high-performance lithium-ion battery systems.

Order of production lines


AKASOL orders first fully automated production lines for the new Gigafactory 1 in Darmstadt

AKASOL commissioned Manz AG, a global high-tech production equipment manufacturing company, to supply fully automated production lines for high-energy battery modules for the Gigafactory 1 at the new Darmstadt Headquarter Campus. Linked to various options, the total order volume amounts up to EUR 20 million, including production lines for AKASOL's new US site in Hazel Park, Michigan. In addition, the Company has announced that the tender for further automated production lines for the high-energy battery systems is currently in the final phase.

Expansion in fuel cell powertrains


AKASOL to Supply Battery Systems for Alstom's Hydrogen Trains

AKASOL is providing technology which will be used in serial production of the world's first fuel cell-powered train, manufactured by Alstom. The Company will supply battery systems for more than 40 Coradia iLint trains, which have been ordered from Alstom, a company specialized in railway technology, by the Lower Saxony Transit Authority and the Rhine/Main Regional Transport Association. With this major order in the low double-digit million euro range, AKASOL is expanding its operations in the area of fuel cell powertrains, as well as extending its customer base.

Building on AKASOL's role as technology leader


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

AKASOL 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 headquarters.

Award for AKASOL


Busworld Innovation Award 2019 for AKASOL's new high-energy battery system AKASystem AKM CYC

AKASOL has received the renowned Innovation Award 2019 at the 25th Busworld exhibition in Brussels for its new AKASystem AKM CYC high-energy battery system. The battery system was presented to the public for the first time at Busworld, the leading trade show of the European bus industry and has now been recognized as one of the most innovative products in the industry. The high energy solution sets new standards in terms of energy density and range.

Busworld 2019 in Brussels


AKASOL presents its latest solutions for buses and coaches at Busworld 2019

More and more fleet operators are opting for alternative powertrain technologies: The European market for hybrid and electric buses is forecast to grow by more than 26% annually, with demand for high-performance battery systems suitable for specific requirements growing fast. AKASOL will be presenting three innovations from its portfolio of safe and high-performance lithium-ion battery systems for all-electric and hybrid city, intercity buses and coaches at Busworld 2019 in Brussels (Hall 5, Stand 530) from October 18-23, 2019. A battery system for fuel cell vehicles will also be on display.

Supply with a total volume of around 13 GWh


AKASOL nominates Samsung SDI as supplier for two serial projects with leading global commercial vehicle manufacturers

AKASOL has significantly expanded its relationship with leading battery manufacturer Samsung SDI, nominating the Korean company as supplier of lithium-ion battery cells and modules for two large serial orders for leading global commercial vehicle manufacturers. The two companies signed an agreement to this effect at the International Motor Show (IAA) in Frankfurt. Under the agreement, Samsung SDI will supply lithium-ion battery cells and modules with a total volume of 13 GWh to the German battery system manufacturer from 2020 through 2027.

Successful cooperation with the long-term customer significantly expanded


AKASOL receives another long-term order from one of the world’s leading commercial vehicle manufacturers

AKASOL received a large follow-up order from one of the world´s leading commercial vehicle manufacturers with a total volume in the high three-digit million-euro range. From 2021 until the end of 2027 the Company will supply the third generation of high energy battery systems for various electric vehicles of the globally operating customer and safeguards AKASOL’s dynamic growth within the upcoming years. The total order backlog rises to approx. EUR 2 billion until 2027.

Battery Show North America 2019


AKASOL to showcase advances, wide portfolio in lithium-ion battery systems

At the Battery Show North America 2019, German manufacturer AKASOL will present its wide portfolio of new solutions to the battery community. AKASOL Inc. president Roy Schulde will speak about the company’s flagship product, the new high-energy battery AKASystem AKM CYC which has entered serial development for the battery module and system. The system outperforms current solid-state battery solutions in terms of price competitiveness and availability.

Campus feeling with state-of-the-art technology


Laying the foundation for an electrified future: AKASOL celebrates ground-breaking ceremony for new headquarters in Darmstadt

AKASOL AG, the leading developer and manufacturer of high-performance lithium-ion battery systems, has celebrated the ground-breaking ceremony for its new headquarters in southwest Darmstadt. The 22,000 m² site will feature a 7,000 m² main administration building and 15,000 m² of state-of-the-art production and logistics facilities, including a dedicated testing and validation center. Completion of the project is planned for mid-2020 and will enable the company to meet its growth plans over the coming years.

Final selection of location in the USA


AKASOL enters North American market with new production facility

AKASOL has announced plans to open a production facility in the metro Detroit area of Michigan, USA. Opening dedicated operations in North America comes in response to specific demand for the company’s high energy battery modules from major international manufacturers and will allow the company to pursue ambitious growth plans for the region. The production expected to begin in 2020 to meet growing demand from major international customers and the project expected to generate considerable investment and create over 200 jobs in the next five years.

Electric & Hybrid Marine World Expo 2019


CCN hybrid superyacht and beyond – AKASOL to present maritim advances at Electric & Hybrid Marine World Expo 2019

AKASOL will present a broad portfolio of high energy density battery systems at the Electric & Hybrid Marine World Expo 2019. Certified for automotive applications, the company’s fast-charging battery systems already power a range of prototype vessels including the brand new 31.2m Vanadis hybrid superyacht from Italian builder Cerri Cantieri Navali (CCN).



UITP Global Public Transport Summit 2019: Interview with Head of Sales Dr. Stefan Bergold

From 9-12 June, Stockholm will host the UITP Global Public Transport Summit, the world’s biggest event dedicated to sustainable mobility.

The event brings together the international public transport community, mobility decision makers and industry suppliers. For the first time, AKASOL will be exhibiting at this exciting fair. We asked Head of Sales Dr. Stefan Bergold why he’s attending and what he’s looking forward to the most.

UITP Global Public Transport Summit 2019


Long-range, fast-charge: AKASOL presents lithium-ion battery system advances at UITP Global Public Transport Summit

At the UITP Global Public Transport Summit 2019, AKASOL will present a broad portfolio of new long-range, fast-charge solutions to the public transport community. The company’s flagship product is the new high-energy battery AKASystem AKM CYC, which has entered series development for the battery module and system. AKAModule CYC achieves market-leading energy density of 221 Wh/kg with liquid cooled battery modules, which are scalable and can be integrated into various system designs at the pack level.



The Battery Show Europe 2019: 5 questions with AKASOL Inc. (USA) President Roy Schulde

Roy Schulde, President of the company’s new North American subsidiary AKASOL Inc., is visiting Battery Show Europe for the first time. We asked him why he’s flying all the way from Detroit to attend, ahead of representing AKASOL at Battery Show North America later this year.

Battery Show Europe 2019


AKASOL to showcase advances and wide portfolio in lithium-ion battery systems

At the Battery Show Europe 2019, AKASOL will present a wide portfolio of new solutions to the battery community. The company’s flagship product is the new High Energy Battery AKASystem AKM CYC which has entered series development for the battery module and system. The AKAModule CYC achieves market leading energy density of 221 Wh/kg with liquid cooled battery modules, which are scalable and can be integrated in various system designs at the pack level.



BAUMA 2019: 5 questions with our Head of Sales for Rail & Industrial Vehicles Felix von Borck

The world’s largest trade fair for construction machinery, building material machines, mining machinery, construction vehicles and construction equipment opens its doors in Munich today. We asked Felix von Borck what he is particularly looking forward to at bauma this year.

Up to 500 workplaces at the new location


AKASOL builds large new headquarters in Darmstadt

As announced at the IPO in 2018, AKASOL AG continues to grow and is building its new headquarters in southwest Darmstadt. The 20,000 square meter property, part of Darmstadt's conversion areas of the former Kelley Barracks, will see a new 7,000 square meter main administration building by mid-2020, as well as a state-of-the-art, environmentally friendly testing and inspection center according to the battery technology company's plans. In addition, a 15,000 square meter two-story production, assembly and logistics hall will be built. The planned total investment volume is in the mid double-digit million euro range.

AKASOL receives the 2018 Supplier Award for Rail & Marine High-Performance Battery Systems


Rolls-Royce Power Systems honors AKASOL with Innovation Award

Reducing emissions through the integration of modern high-performance battery systems into powertrains for rail, marine and other industrial systems is a key objective of the collaboration between engine manufacturer MTU Friedrichshafen, a Rolls-Royce Power Systems brand, and AKASOL. The Darmstadt-based technology company recently received the RRPS Innovation Supplier Award for the development and production of high-performance battery systems in the Rail & Marine sector, thanks to its successful cooperation on several projects.

IAA Commercial Vehicles:


AKASOL develops battery system for trailer axle from SAF-HOLLAND

Commercial vehicles must nowadays comply with increasingly strict environmental regulations. One example is refrigerated vehicles, which may only deliver goods if their cooling units operate silently, instead of being supplied with energy by a noisy diesel generator. As part of a forward-thinking European project, the globally operating commercial vehicle supplier SAFHOLLAND S.A. has integrated a high-performance battery system from AKASOL into an experimental vehicle with the electrified SAF TRAKr trailer axle. The Li-ion batteries are fed with braking energy through the truck‘s journey.

Battery systems for city, intercity, long-distance and distribution transport:


AKASOL is showcasing a wide range of solutions for hybrid and electric mobility

Regardless of whether it is in city transport, intercity transport or distribution transport, the electrification of commercial vehicles helps to save costs in many applications and benefits people and the environment. As a result, the demand for battery systems is increasing rapidly. This is also partly due to more stringent requirements, such as those relating to air quality in city centers. However, these battery systems must meet extremely high standards and requirements from a wide range of customers.

AKASOL, one of Europe’s leading manufacturers of battery systems for commercial vehicles, will be showcasing the wide variety of safe and powerful lithium-ion battery systems it has on offer at IAA Commercial Vehicles 2018 (Hall 13, Stand F12).

Same space, much wider range:


AKASOL develops second-generation lithium-ion battery systems for Mercedes-Benz’ eCitaro

Daimler Buses’ and AKASOL’s long-term cooperation for the development and mass-production of battery systems for the electric bus eCitaro is going from strength to strength. In autumn, serial production of the first-generation battery system AKASYSTEM OEM will begin in Langen (Hesse, Germany) as planned. Meanwhile, AKASOL is starting to develop second-generation lithium-ion battery systems in close cooperation with Daimler Buses.

More energy for the long haul


New battery module with very high energy density for coaches and trucks

AKASOL introduces their first cylindrical-cells battery system with very high energy density (221 Wh/kg) at The Battery Show Europe. AKAModule 60 CYC allows building high-energy battery systems thanks to its modular structure. This enables long distance journeys for commercial vehicles such as intercity coaches, buses and trucks while at the same time offering a long life-time. At stand B386 AKASOL will present battery system AKASYSTEM 15 AKM 60 CYC with 40 kWh as an example.

Daimler subsidiary EvoBus chooses AKASOL


AKASOL supplies battery systems for the electric Citaro by EvoBus

AKASOL, based in Darmstadt (Germany), is now manufacturing lithium-ion battery systems for Daimler subsidiary EvoBus. The leading European bus manufacturer plans to launch its new electric bus Citaro at the IAA Commercial Vehicles in September. These buses will be fitted with up to ten of AKASOL’s AKASYSTEM OEM battery packs (max. 243 kilowatt hours). The innovative technology combines high demands on performance charging and discharging, energy density and lifespan.

AKASOL partners with Diesel Center for high-perfomance hybrid propulsion systems for superyachts


AKASOL at the boot show 2018

AKASOL delivers eight battery systems to Sanlorenzo for 32m hybrid yacht and presents innovative propulsion system E-Motion on display at Boot Duesseldorf show (Sanlorenzo booth Hall 6, A41).

Langen plant to produce lithium-ion systems for 10,000 European electric buses


AKASOL opens Europe’s largest production facility

AKASOL today announces the opening of a new semi-automated production facility for high-performance lithium-ion battery systems for commercial vehicles. The eMobility pioneer and European market leader has invested €10 million into the new commercial plant at Langen, creating 150 new jobs for the Hesse region in coming months.

AKASOL shows next generation high-performance battery systems for e-buses


The AKASYSTEM OEM system will be used by two European bus manufacturers from next year

At Busworld Europe (Kortrijk, October 20–25, 2017) AKASOL will present its AKASYSTEM OEM battery system as a complete roof installation including the chiller and other additional components. This system has allowed AKASOL to be very successful in the market for electric and hybrid buses. From 2018, two well-known European bus manufacturers will using the technology in Germany, with plans to equip around 10,000 e-buses over the next few years. AKASOL is now expanding its production facilities in order to meet growing demand and further customer orders.

Clean air in underground mines


AKASOL supplies lithium-ion battery systems to Canadian mining equipment provider MEDATECH

Based in Collingwood (Ontario), Medatech Ltd., the Canadian provider of sustainable drive systems for the mining industry, now incorporates AKASOL GmbH's AKASystem AKM NANO lithium-ion battery systems into its designs for electrically powered equipment and drives. Medatech will equip everything from drilling and anchoring machines to heavy transport vehicles with the systems in order to meet the extremely high performance requirements that apply to opencast and underground mines.

Two battery pioneers set sail together


AKASOL and ZEM announce partnership to develop lithium ion batteries for maritime use

AKASOL, the German expert for lithium-ion battery systems, and ZEM, the Norwegian pioneer of maritime energy storage solutions, have worked together on the development of AKAZEM. The result is a unique autonomous IP 67-compliant liquid cooled modular system that can be combined in a “lego-like” fashion to meet smaller vessels’ space and power requirements up to a 2C power range at costs that opens many new applications. The first joint product, AKAZEM 15 OEM, is a self-contained modular battery unit specifically designed for work boats in the aquaculture industry, fishing boats and smaller passenger ferries. This self-contained 24kWh IP 67 system is likely to become a game changer, as its quality, safety and price are based on the large-series-production of the AKASystem OEM designed for buses.

Large-scale expansion of production capacities


Two new production sites for series production

With a new facility featuring over 3,000 m2 of production halls and office space in Langen, as well as an additional 700 m2 of halls at the headquarters in Darmstadt, lithium-ion battery system pioneer AKASOL is launching two further production sites at once. Starting in 2018, up to 150 members of staff will begin series assembly of lithium-ion battery systems for leading European bus manufacturers, in what will be the largest plant in Langen. By the end of 2017, the automated and automotive-focused series production line will be set up and put into operation.

Leading the way with clean energy


AKASYSTEM OEM Lithium-Ion battery system for electric yachts, boats and ships: Robust, efficient and cost-effective

High-performance, customizable batteries for demanding applications in ships and yachts have traditionally been very costly. At this year's Electric & Hybrid Marine World Expo, AKASOL is presenting a promising solution: the AKASystem OEM. This compact, modular lithium-ion battery system is an ideal solution for yachts, offshore supply and drilling ships, excursion boats, tugs and ferries, as well as for mobile port equipment.

Triathlon-class battery systems


E-mobility battery modules by AKASOL achieve excellent results in long-term endurance tests.

One of the most critical issues for electrically powered vehicles is ensuring the long service life and consistent performance of their battery systems. Over the course of an eight-month endurance test, the experts at German e-mobility pioneer AKASOL subjected the latest generation of the company’s battery modules, AKAMODULE 46Ah and 53Ah, to a range of extreme conditions. The test generated a wealth of impressive data.

Major contract confirms status as a technological leader


AKASOL supplies lithium-ion battery systems for series production of e-buses

An internationally operating commercial vehicle manufacturer based in northern Europe has entrusted AKASOL with the serial production of lithium-ion battery systems for its entire fleet of e-buses. The contract, which represents hundreds of millions of euros and lasts until 2023, outlines a close, long-term partnership between both companies and involves the supply of up to 4,500 battery systems.

Cost-effective and efficient: AKASystem OEM


Premiere: lithium-ion battery systems for series production commercial vehicles

High-performance, customisable batteries for demanding applications in commercial vehicles have traditionally been very costly, but AKASOL is presenting the world premiere of a promising new solution at this year’s IAA Commercial Vehicles (Hanover 22–29 September 2016): the AKASystem OEM. The compact, modular lithium-ion battery system is particularly well-suited for use in commercial vehicles such as buses, lorries, construction vehicles or other specialised vehicles.

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