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TESVOLT GmbH: Tesvolt takes a stake in Stercom

DGAP-News: TESVOLT GmbH / Keyword (s): Investment
07.07.2021 / 09:30
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Press release

Tesvolt acquires stake in Stercom – a technology leader for inductive charging in electric mobility

– Agreement to acquire a minority stake with an additional increase option signed

– The partnership aims to accelerate the induction charging of electric cars

– Powerful 44 kW charging station planned as the first common product

– Contactless charging as a key to accelerated acceptance of e-mobility

Wittenberg, Munich, July 7, 2021 – Tesvolt GmbH, one of the world’s leading technology providers for commercial and industrial applications in energy storage, has acquired a significant minority stake in Stercom Power Solutions GmbH (Stercom). In addition, the possibility of a further increase in participation was agreed.

Stercom is one of the technological leaders in the field of electromobility charging. With the shareholding and future joint projects, Tesvolt and Stercom intend to move forward with the contactless charging of electric cars, buses and trucks. Induction charging makes electric driving even more comfortable, efficient and affordable, and is considered one of the key technologies for the global expansion of electric mobility. Tesvolt and Stercom have agreed to develop a powerful 44 kW charging station as the first joint product in the coming years. In this way, Tesvolt strives to enter an attractive new line of business which complements the existing product line in the field of electrical storage systems by taking advantage of synergy effects.

With Tesvolt and Stercom, two technological leaders in the fields of electric charging and electric storage systems are pooling their skills. The two companies have already implemented joint projects with great success in recent years. Stercom occupies a leading position in the field of induction charging, i.e. contactless charging of vehicle batteries via a magnetic coil located in the ground. Even during short periods of non-driving in parking lots, vehicles can be recharged with great efficiency. Car manufacturers like Audi or BMW are already installing the necessary charging coils in their new car models. Next steps for full maturity of the technology market will include further development of security and other standards. Stercom has ready-to-use silicon carbide technology which enables highly efficient energy transmission with 95% efficiency. The distance between the transmitter and receiver coils can be up to 20cm, which is an important prerequisite for a market launch and differentiates Stercom technology from its competitors.

The leadership of Stercom can draw on many years of industry experience and an extensive network in the automotive industry, gained through leadership positions at Continental and Knorr, among others. With a rapidly growing team of specialists, Stercom is developing key technological systems for the electromobility of the future and has already taken technological leadership today. Stercom’s first products for induction charging are already in use in a selection of specialty vehicles around the world. Stercom’s high technological competence is underpinned by cooperation, for example, with the Leibnitz Institute and leading industrial companies, including at the “Einstein Elevator”.

Tesvolt has as a system specialist for commercial energy storage systems the corresponding skills to combine individual components into a convincing overall solution. In addition, Tesvolt can already rely on worldwide commercial success and a corresponding distribution network. Through the combination of the system, technology and marketing skills of the two companies, solutions for electromobility will be successfully developed and commercialized in the future. Initially, the markets which already today have a strong affinity for electromobility will be targeted. These include Germany and Scandinavia.

Induction charging offers new technological possibilities: vehicle batteries can handle with lower capacities because recharging at short intervals is also possible while driving. This is in addition to the cost and weight advantages in electromobility.

Simon Schandert, Founder and CTO of Tesvolt: “We are delighted to be part of Stercom as a technology leader for inductive charging. Our companies know each other well; we have already had successful cooperation in the past. This helps us to advance developments and new technological developments in the short term. Our shared vision is to launch highly efficient charging systems and enable induction supercharging in the medium term. This opens up considerable additional potential for Tesvolt in the decades to come.

Robert Sterff, founder and CEO of Stercom, adds: “In the cooperation with Tesvolt, now documented at shareholder level, we can fully focus on our technological competence. My colleagues and I look forward to the long-term cooperation and the possibility of boosting electromobility from a leading technological position. Pooling the skills of our two companies will create considerable synergies in terms of development and marketing. Therefore, I see great potentials for current and future common products on the development of which we are now working together. “

Both sides have agreed not to disclose the stake size and price.

About Tesvolt

Tesvolt specializes in battery storage systems for commercial and industrial applications. The innovative company produces intelligent lithium-ion storage systems with prismatic Samsung SDI battery cells made from nickel manganese and cobalt oxides. Tesvolt mass-produces its commercial storage solutions in Europe’s first gigafactory for commercial battery storage systems in Wittenberg and supplies them worldwide. More than 2,200 storage projects have already been implemented by Tesvolt; the company employs nearly 100 people. The young company has already received several awards, including the German Founder Award in the “Rising Stars” category, the “TOP 100” innovation award and the international award from the Alliance for Rural Electrification (ARE).

About Stercom

Stercom Power Solutions is a market-leading innovator in inductive and captive charging and power electronics. The company was established in 2014 in the south of Munich and its young team brings together exceptional expertise in all aspects covering the efficiency and safety of high voltage and current systems. Stercom is also a specialist in supercap storage systems which are used worldwide for shaving spikes in catapult launch roller coasters. The think tank has developed one of the world’s most powerful supercap storage systems for the “Einstein Elevator” research project at Leibniz University in Hanover, which is used in the simulation of weightlessness.

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07.07.2021 Distribution of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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