China Certification Paves the Way for Leclanché (SIX: LECN) to Capitalise On The $100bn E-Transport Market in China
YVERDON LES BAINS, Switzerland and DALLAS - March 7, 2017 (Investorideas.com Newswire) Leclanché SA (SIX: LECN), one of the world's leading energy storage solution companies, announced today that it has received certifications recognizing its LTO battery cell's compliance with China's latest standards, a pre-requisite to providing battery solutions to power electric vehicles in China.
This certification corresponds to the latest standards issued by the Standards Administration of China, and covers requirements in terms of lifetime, safety and performance under the following standards: "GB/T 31484-2015 Cycle Life Requirements and Test Methods for Traction Battery of Electric Vehicle, GB/T 31485-2015 Technical Requirements and Test Methods for Traction Battery of Electric Vehicle Safety Requirements, and GB/T 31486-2015 Technical Requirements and Test Methods for Traction Battery of Electric Vehicle Electrical Performance."
Anil Srivastava, CEO of Leclanché, said: "We are delighted to have received this important certification and endorsement of Leclanché's superior battery technology and its suitability to power the growth of the world's largest new energy vehicle market.
"With the expected doubling of electric vehicle battery capacity in China by 2020 and lithium batteries as the key technology, the opportunities for Leclanché are significant. This is an important milestone for Leclanché and will support the growth strategy of the company."
Pierre Blanc, CTO of Leclanché, added: "Leclanché has advanced lithium cells technology, with more than 100 patents, for both power applications, LTO, and high energy density cells, G/NMC cells. Coupled with the knowhow of building and operating Europe's largest and most automated lithium cell manufacturing facility, Leclanché is the ideal technology licensing and manufacturing partner to help Chinese companies leapfrog the competition and dominate the global battery market. Furthermore, with its complete battery systems technology, including modules and battery management system software, Leclanché can offer fully integrated solutions for many applications, in particular electric buses."
Leclanché is in advanced discussions with several parties in China as the company continues to progress plans to develop strategic partnerships in technology licensing, low-cost manufacturing and, in particular, the more than $100bn Chinese e-transport market.
This certification is a further testament to the efficacy of Leclanché's superior LTO cell technology. The certification was performed by China North Vehicle Quality Supervision Inspection Testing Centre, an independent test laboratory.
This follows Leclanché's announcement in February of achieving 60 percent revenue growth for 2016, in line with guidance, and that the company is on track to deliver above-market revenue growth in 2017. Growth is supported by the current pipeline of awarded and expected projects which stands at over 450 MWh. Guidance for breakeven EBITDA profitability above 100MWh production is envisaged by 2018.
Growth targets are subject to a number of factors, including supply chain capacity and timely access to capital. The company maintains its focus on capital efficiency and limiting shareholder dilution in funding growth.
Leclanché is one of the world's leading fully vertically integrated energy storage solution providers. It delivers a wide range of energy storage solutions for homes, small offices, large industries, electricity grids, as well as hybridization for mass transport systems such as bus fleets and ferries. Established in 1909, Leclanché has been a trusted provider of battery energy storage solutions for over 100 years. Founded in the tradition of Georges Leclanché, the inventor of the dry cell battery, Leclanché today has a rich portfolio of Battery Energy Storage Systems (BESS) that include bespoke battery systems from industry leading lithium-ion solutions.
Leclanché is listed on the Swiss stock exchange, and is the only listed pure-play energy storage company in the world.
SIX Swiss Exchange: ticker symbol LECN | ISIN CH 011 030 311 9
This press release contains certain forward-looking statements relating to Leclanché's business, which can be identified by terminology such as "strategic", "proposes", "to introduce", "will", "planned", "expected", "commitment", "expects", "set", "preparing", "plans", "estimates", "aims", "would", "potential", "awaiting", "estimated", "proposal", or similar expressions, or by expressed or implied discussions regarding the ramp up of Leclanché's production capacity, potential applications for existing products, or regarding potential future revenues from any such products, or potential future sales or earnings of Leclanché or any of its business units.
You should not place undue reliance on these statements. Such forward-looking statements reflect the current views of Leclanché regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. There can be no guarantee that Leclanché's products will achieve any particular revenue levels. Nor can there be any guarantee that Leclanché, or any of the business units, will achieve any particular financial results.
Anil Srivastava / Hubert Angleys
Tel.: +41 (0) 24 424 65 00
North American Media Contacts
Henry Feintuch / Richard Anderson
1-212-808-4901 / 1-718-986-1596
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