AMG LIVA Power Management Systems GmbH Acquires the Redox Flow
Battery Activities from J.M. VOITH SE & CO. KG.
Amsterdam, 27 December 2023 ---
AMG Critical Materials N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) is
pleased to announce that LIVA Power Management Systems GmbH
(“LIVA”), a wholly owned subsidiary of AMG Critical Materials N.V.
has agreed to acquire the Vanadium Redox Flow Battery (“VRFB”)
activities from J.M. VOITH SE & CO. KG (“VOITH”).
VOITH has developed a unique technology for controlling and
balancing large-scale high-voltage VRFB energy storage systems. The
technology compliments LIVA´s large scale VRFB systems. LIVA will
integrate this technology into its large-scale energy storage
systems.
LIVA and VOITH will cooperate in their activities in the field
of industrial and grid-scale energy storage systems in the
future.
Volker Kölln, CEO of AMG LIVA, commented, “This
acquisition is an important building block for LIVA to further
expand the attractiveness of the VRFB technology. By integrating
the VOITH IP, we can improve the energy efficiency of electricity
storage while reducing system costs. Highly efficient and reliable
mass energy storage systems are the key to the energy transition in
industry and for grid management applications.”
About LIVA
LIVA Power Management Systems GmbH (‘LIVA’) as a
subsidiary of AMG Critical Materials NV is active in the B2B market
for industrial and large-scale energy storage systems (4.0-100+MWh)
for demand & supply side power management to reduce energy
costs and CO2 emissions. LIVA builds custom-tailored hybrid energy
storage systems (Hybrid-ESS) for realizing the industrial energy
transition.
LIVA combines Li-Ion- and Vanadium Redox Flow
battery technologies with sophisticated operating software to
create a virtual Hybrid-ESS with enhanced properties for heavy duty
industrial applications. The LIVA ecosystem simulates and operates
stationary large scale as well as further energy assets like
Power-to-Gas or Power-to-heat facilities with artificial
intelligent (AI) routines and self-learning algorithms. Besides
maximizing efficiency, safety and lifetime of the batteries, the
system enables the economic integration of sector coupling
strategies with renewable energies and green hydrogen.
About VOITH
The Voith Group is a global technology company.
With its broad portfolio of systems, products, services, and
digital applications, Voith sets standards in the markets of
energy, paper, raw materials and transport & automotive.
Founded in 1867, the company today has around 22,000 employees,
sales of €5.5 billion and locations in more than 60 countries
worldwide and is thus one of the larger family-owned companies in
Europe. Voith Hydro Division is part of the Voith Group and a
leading full-line supplier and reliable partner for hydropower
plant equipment. Voith develops customized long-term solutions and
services for large and small hydropower plants all over the world.
Its range of products and services covers the entire life cycle and
all the main components for large and small hydropower plants, from
generators, turbines, pumps, and automation systems to spare parts,
maintenance and training services and digital solutions for
intelligent hydropower.
About AMG
AMG's mission is to provide critical materials
and related process technologies to advance a less carbon-intensive
world. To this end, AMG is focused on the production and
development of energy storage materials such as lithium, vanadium,
and tantalum. In addition, AMG's products include highly engineered
systems to reduce CO2 in aerospace engines, as well as critical
materials addressing CO2 reduction in a variety of other end use
markets.
AMG Clean Energy Materials segment combines
AMG’s recycling and mining operations, producing materials for
infrastructure and energy storage solutions while reducing the CO2
footprint of both suppliers and customers. AMG Clean Energy
Materials segment spans the vanadium, lithium, and tantalum value
chains. AMG Critical Materials Technologies segment combines AMG’s
leading vacuum furnace technology line with high-purity materials
serving global leaders in the aerospace sector. AMG Critical
Minerals segment consists of AMG’s mineral processing operations in
antimony, graphite, and silicon metal.
With approximately 3,600 employees, AMG operates
globally with production facilities in Germany, the United Kingdom,
France, the United States, China, Mexico, Brazil, India, Sri Lanka,
and Mozambique, and has sales and customer service offices in Japan
(www.amg-nv.com).
For further information, please
contact:AMG Critical Materials
N.V. +1
610 975 4979Michele
Fischermfischer@amg-nv.com
Disclaimer
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AMG anticipates in the industries and the political and legal
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historical information. When used in this press release, the words
“expects,” “believes,” “anticipates,” “plans,” “may,” “will,”
“should,” and similar expressions, and the negatives thereof, are
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statements will not be achieved. These forward-looking statements
speak only as of the date of this press release. AMG expressly
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updates or revisions to any forward-looking statement contained
herein to reflect any change in AMG's expectations with regard
thereto or any change in events, conditions, or circumstances on
which any forward-looking statement is based.
- Voith December 27 2023 Final
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