31-07-2015 | Press releases | Corporate & Ad-hoc news

paragon subsidiary Voltabox receives first large-scale serial order for starter batteries

Delbrück, July 31, 2015 – The paragon subsidiary Voltabox Deutschland GmbH has received its first large-scale order from a well-known German carmaker for starter batteries in conventionally powered vehicles. Initial specimens will already be supplied in August 2015 and production will start in May 2016. The contract has a six-year term and a revenue volume of approximately € 72 million.

Klaus Dieter Frers, CEO of paragon AG, stressed the great significance of this order for this still new business segment: “This order is a superb example of the enormous range of potential uses for our Voltabox technology and for the benefits of our modular system. This means that Voltabox has now also successfully accessed the large market for conventionally powered vehicles and thus stands to benefit from further great revenue potential for the future.” As well as offering substantial weight savings of around 60% compared with traditional lead-acid starter batteries, the lithium ion batteries offered by Voltabox are also characterized by better cold start behavior, significantly lower levels of self-discharge, and a considerably longer lifespan. Given the modular structure of the starter batteries, Voltabox can also manufacture these on its fully automated production line and thus further raise its capacity utilization. Further talks are already underway and Voltabox expects to receive additional orders from existing and new customers. “The Voltabox technology is not only highly versatile in terms of its deployment – it also enables us to trigger a fundamental technological transformation in numerous areas. And that is absolutely in the interests of our customers, end consumers, and our shareholders – a classic win-win situation,” added Klaus Dieter Frers.