PLASTIC OMNIUM (EPA:POM) - Launch of EKPO Fuel Cell Technologies

Transparency directive : regulatory news

01/03/2021 14:00

PRESS RELEASE
Dettingen/Paris, March 1, 2021

Launch of EKPO Fuel Cell Technologies

* New company, jointly owned by ElringKlinger and Plastic Omnium, ready to
supply fuel cell stacks and components for broad range of applications

* Initial annual production capacity of up to 10,000 stacks already available

* In parallel, Plastic Omnium takes ownership of ElringKlinger's subsidiary for
integrated hydrogen systems to complement its global hydrogen strategy

EKPO Fuel Cell Technologies, the joint venture of ElringKlinger (60%) and
Plastic Omnium (40%), is now ready to start operations, having implemented all
contractual arrangements and been granted the necessary antitrust approvals.
The newly created company offers best-in-class and cost-competitive fuel cell
stacks and components for a broad range of applications. Initially, the company
will focus on commercial vehicles and buses and then on passenger cars. Special
vehicles, trains, and ships are also fields of the growth potential.

Commenting on EKPO's launch, the two CEOs of the parent groups, Dr. Stefan Wolf
and Laurent Favre, said, "We are pleased that business is now underway. We see
tremendous market potential ahead of us and are determined to achieve our
revenue target of EUR 700 million to EUR 1 billion in 2030. Our commercial
pipeline is very strong and production capacity is in place. In addition, we
can build on compelling technology, centered around high power density, in our
efforts to translate our joint vision into reality. By successfully
establishing fuel cell drives, we make our contribution on the road to
emission-free mobility."

The company site in Dettingen/Erms, Germany, is already able to produce up to
10,000 fuel cell stacks per year according to automotive industrial standards
as well as key components of a stack, such as bipolar plates or media modules.
In the coming years, EKPO will drive investments for accelerating innovation,
extending the commercial pipeline, and increasing production capacity, with the
aim to achieve a market share of 10 to 15% in 2030.

The joint venture is headed by a group of three general managers. Armin Diez
(58), previously in charge of ElringKlinger's fuel cell business, is
responsible for the technical and operational activities. Julien Etienne (43)
from Plastic Omnium New Energies is in charge of sales, marketing, and program
management. Dr. Gernot Stellberger (41), Head of Global Strategy, M&A, and
Innovations at ElringKlinger, is responsible for financial and strategic
tasks.

As part of the agreement signed in October 2020, Plastic Omnium also acquires
ElringKlinger Fuelcell Systems Austria GmbH (EKAT), ElringKlinger's subsidiary
specialized in integrated hydrogen systems. With this acquisition, Plastic
Omnium complements its expertise in energy management and control of hydrogen
systems.

For further information, please contact:

ElringKlinger AG
Strategic Communications
Dr. Jens Winter
Phone: +49 7123 724-88335
E-mail: jens.winter@elringklinger.com

Compagnie Plastic Omnium SE
VP Investor Relations
Philippine de Schonen
Phone: +33 1 40 87 66 78
E-mail:philippine.de-schonen@plasticomnium.com

About ElringKlinger

As an independent and globally positioned supplier, ElringKlinger is a powerful
and reliable partner to the automotive industry. Be it passenger car or
commercial vehicle, equipped with an optimized combustion engine, with hybrid
technology or with an all-electric motor, the Group offers innovative solutions
for all types of drive system. Developing cutting-edge battery and fuel cell
technology as well as electric drive units, ElringKlinger was among the
frontrunners when it came to positioning itself as a specialist in the field of
e-mobility. Alongside its proprietary fuel cell stacks, ElringKlinger is
acknowledged in particular for its innovative fuel cell components, including
patented designs for metallic bipolar plates and plastic media modules that
complement the product range. ElringKlinger PEMFC stacks provide exceptional
performance characteristics, thus setting an international benchmark: With an
electrical output of up to 200 kWel and a volumetric power density of up to 6
kW/l, the NM12 fuel cell stacks are suitable for use in both passenger cars and
commercial vehicles as well as in other applications requiring a high level of
performance. The smaller NM5 fuel cell stacks provide an electrical output of 6
to 73 kWel. Moreover, the Group provides sealing technology, shielding systems
and lightweight products around the engine and the body structure of a vehicle.
These efforts are supported by a dedicated workforce of around 10,000 people at
45 ElringKlinger Group locations around the globe.

About Plastic Omnium

Around the world, Plastic Omnium provides carmakers with innovative solutions
for more connected and sustainable mobility. A global leader in its three
businesses, the Group develops and produces intelligent exterior systems, clean
energy systems and customized complex modules. With an international footprint
of 135 plants, 25 R&D centers and a 2,200 patent portfolio, Plastic Omnium
relies on its 31,000 employees to meet the challenges of clean and smart
mobility.

Innovation-driven since its creation, Plastic Omnium is now paving the way for
the zero carbon car through its investments in hydrogen solutions, for which
the Group has ambitions to become world leader throughout the entire value
chain.

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