Total orders from Viessmann in 2022 and 2023
have reached EUR176.1
million
DALIAN,
China, June 15, 2023 /PRNewswire/ -- CBAK Energy
Technology, Inc. (NASDAQ: CBAT) ("CBAK Energy," or the "Company"),
a leading lithium-ion battery manufacturer and electric energy
solution provider in China, today announced that the Company
has received an order worth EUR116.5
million (approximately USD124.5
million) of lithium-ion batteries from the Viessmann Group
("Viessmann"), a leading European provider of heating, cooling, and
renewable energy systems, for 2024.
CBAK Energy has been supplying
lithium-ion batteries to Viessmann since 2020. CBAK Energy
previously announced that it had received two orders in May and
September 2022 for lithium-ion
batteries worth EUR59.6 million in
total from an unnamed European purchaser. We are now disclosing
that this customer was Viessmann. This new order, set to be
delivered in 2024, will bring the total order value received in
2022 and 2023 from Viessmann to approximately EUR176.1 million.
Founded in 1917, Viessmann, a global family business, has 22
production companies in 12 countries, and 120 sales branches.
Viessmann has transitioned from a heating system manufacturer to a
global technology leader, with total revenues of EUR4 billion in 2022, of which over 50% were
achieved internationally. Furthermore, in April 2023 it was announced that Viessmann
Climate Solutions, the client of CBAK Energy, would be
acquired by Carrier Global Corp., the world's largest supplier of
heating, ventilation, and air conditioning, as well as a provider
of refrigeration equipment. Combining the two companies will create
a business with total sales revenue of over EUR17 billion.
Yunfei Li, Chairman and Chief
Executive Officer of CBAK Energy, commented, "We are excited to
receive such a sizable order, which we believe is a testament to
the quality and reliability of our batteries. Viessmann has grown
over the decades into a company that provides an integrated range
of climate solutions. We are proud to be one of Viessmann's key
suppliers and accompany them in their continued growth, fueled by
their leading market position and strong demand for effective
climate solutions. Viessmann's continued success shows that climate
protection technologies are the technologies of the future. We look
forward to additional opportunities to expand our reliable
high-power lithium-ion batteries throughout the global market,
which are well suited to a variety of applications."
About CBAK Energy
CBAK Energy Technology, Inc. (NASDAQ: CBAT) is a leading
high-tech enterprise in China
engaged in the development, manufacturing, and sales of new energy
high power lithium batteries and raw materials for use in
manufacturing high power lithium batteries. The applications of the
Company's products and solutions include electric vehicles, light
electric vehicles, electric tools, energy storage, uninterruptible
power supply (UPS), and other high-power applications. In
January 2006, CBAK Energy became the
first lithium battery manufacturer in China listed on the Nasdaq Stock Market. CBAK
Energy has multiple operating subsidiaries in Dalian, Nanjing and Shaoxing, as well as a large-scale
R&D and production base in Dalian.
For more information, please visit ir.cbak.com.cn.
Safe Harbor Statement
This press release contains "forward-looking statements" that
involve substantial risks and uncertainties. All statements other
than statements of historical facts contained in this press
release, including statements regarding our future results of
operations and financial position, strategy and plans, and our
expectations for future operations, are forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended and Section 21E of the Securities Exchange Act of 1934, as
amended. We have attempted to identify forward-looking statements
by terminology including "anticipates," "believes," "can,"
"continue," "could," "estimates," "expects," "intends," "may,"
"plans," "potential," "predicts," "should," or "will" or the
negative of these terms or other comparable terminology. Our actual
results may differ materially or perhaps significantly from those
discussed herein, or implied by, these forward-looking
statements.
The forward-looking statements included in this press release
are made as of the date of this press release and the Company
undertakes no obligation to publicly update or revise any
forward-looking statements, other than as required by applicable
law.
For further inquiries, please contact:
In China:
CBAK Energy Technology, Inc.
Investor Relations Department
Mr. Thierry Jiewei Li
Phone: 86-18675423231
Email: ir@cbak.com.cn
Piacente Financial Communications
Ms. Hui Fan
Tel: +86-10-6508-0677
Email: CBAK@thepiacentegroup.com
In the United
States:
Piacente Financial Communications
Ms. Brandi Piacente
Tel: +1-212-481-2050
Email: CBAK@thepiacentegroup.com
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SOURCE CBAK Energy Technology, Inc.