IBU-tec Partners with PowerCo for Major Battery Material Expansion

IBU-tec advanced materials AG has announced the signing of additional contracts with PowerCo SE. These agreements involve the development and production of European LFP cathode material, aiming for an annual volume in the mid- to high double-digit million-euro range. A Joint Development Agreement (JDA) and a long-term supply agreement form the basis of this collaboration.

The venture will significantly boost IBU-tec's production capacity, with plans to quintuple it by building a new facility at Bitterfeld, scheduled for completion by 2028. Financing for this expansion is secured, ensuring a swift start to production.

PowerCo SE will have exclusive access to the material produced over the next ten years. IBU-tec anticipates substantial revenue growth from 2028, thanks to the anticipated increase in sales and demand for battery materials.