Alelion Energy Systems AB (publ) signs a framework agreement with Toyota Industries Corporation
2018-04-13 - Alelion Energy Systems AB
Alelion Energy Systems has signed a framework agreement with Japanese Toyota Industries Corporation, TICO, the parent company of the Toyota Industrial Group. Alelion has previously been a supplier of lithium-ion batteries to the European part of Toyota's truck business Toyota Material Handling Europe. The new agreement is a first step towards enabling the delivery of batteries to Toyota Material Handling trucks in other markets.
Toyota Material Handling, TMH, is the market leader in forklifts and other material handling vehicles and sell their products globally under the brands Toyota, Raymond, BT and Cesab. In 2016, the company sold 239,000 trucks worldwide with a revenue of more than 70 billion Swedish kronor.
Alelion has supplied lithium-ion batteries to the trucks manufactured in the European part of TMH, Toyota Material Handling Europe, since 2011. Alelion is also a service partner for TMH Europe.
This new agreement is a result of the long-term cooperation with TMH Europe, which means that Alelion's lithium-ion batteries are evaluated for possible use in trucks that are also produced for the rest of TMH's global markets.
Great environmental benefits
Lithium-ion technology is the dominant technology as more and more vehicle segments switch from fossil to electrical operation and are used in electrified vehicles such as trucks, cars, buses and trucks. In the material handling industry, a transition from lead acid batteries to lithium-ion batteries is taking place where lithium-ion batteries have several advantages from an environmental perspective compared to lead acid. In addition to the fact that they do not contain lead or create explosive hydrogen when they are charged, lithium-ion batteries have significantly higher energy efficiency, which leads to lower carbon dioxide emissions.
Alelion recently informed to build Sweden’s first factory for large scale production of lithium-ion batteries intended for industrial vehicles. The factory will be located in the vehicle park at Hisingen in Gothenburg and will be ready for production during the third quarter of 2018.
For more information, please visit www.alelion.com or contact:
CEO, Alelion Energy Systems AB (publ)
Tel: +46 707 51 67 10
The information in this press release contains inside information that Alelion Energy Systems AB (publ) will publish under the EU Market Abuse Regulation. The information was provided by the contact person for publication on April 13 2018 at 08: 30 CET
About Alelion Energy Systems AB (publ)
Alelion Energy Systems AB (publ) develops and markets lithium ion batteries and energy storage systems. The focus is on the material handling and battery forklift trucks to replace today's lead acid batteries and diesel engines. Lithium-ion technology is superior to lead-acid technology in all respects.
A battery of lithium-ion is energy-efficient, lighter, has longer durability and also contributes to a significantly less environmental impact. The company currently has a leading position in this market. Read more at www.alelion.com
Alelion's largest owner is Fouriertransform and Pegroco Invest. The company's share (ALELIO) is traded on Nasdaq First North Stockholm with G & W Fondkommission as Certified Adviser, phone: +46-8-503 000 50.