Voltabox takes first step of M&A growth strategy with acquisition of engineering services provider Concurrent Design

- Complete acquisition of the U.S. engineering services provider Concurrent Design, Inc. with more than 20 highly skilled employees

- The acquisition significantly increases development capacities and supports Voltabox's dynamic growth strategy in the North American market

- The takeover represents the first step of the clear M&A growth strategy; further acquisitions are being planned

Delbrück, Germany, April 04, 2018 - Voltabox AG [ISIN DE000A2E4LE9] acquires the engineering company Concurrent Design, based in Austin, Texas, with immediate effect. The acquisition significantly increases Voltabox's development capacities. In addition, management expects additional valuable expertise that will further strengthen the company's technological leadership in the development and production of safe and economic lithium-ion battery systems. Negotiations for further acquisitions within the scope of the clearly defined growth strategy are already at an advanced stage.

With Concurrent Design, Inc., which has been directly integrated into the structures at the site of Voltabox of Texas, Inc., the Group is gaining proven and long-standing expertise in research and development. Concurrent Design has more than 20 employees, mostly designers and software developers, so the company consequently has special expertise in manufacturing and testing automation. Voltabox has thereby significantly expanded its development capacities and range of skills at the Austin site.

"Concurrent Design's extensive technical expertise is perfect for Voltabox. Concurrent Design has successfully completed more than 1,700 projects in the fields of renewable energy, medical technology, semiconductors and electronics, among others. With the acquisition, we are expanding our position as the leading supplier in the development and production of lithium-ion battery systems. The integration of Concurrent Design is a logical step against the background of our current and future growth," said Jürgen Pampel, CEO of Voltabox AG. "The Concurrent Design team has tremendous experience in production design, industrial solution development, test equipment development and design analysis," emphasized Rick Herndon, CEO of Voltabox of Texas, Inc.

The acquisition of Concurrent Design, Inc. strengthens Voltabox AG's core business Voltapower. It is the first acquisition for the company in this field since its successful IPO. First and foremost, the targeted expansion of R&D capabilities is paramount in order to be able to realize future project orders for complex and high-performance battery systems in various end markets in parallel. The development of battery systems for underground mining is currently a focus for Voltabox in the North American market. The company will therefore initially use the newly acquired resources to process the large order backlog from the customer Komatsu Mining Corp. more quickly. As a result, the Management Board anticipates significantly higher sales growth in the next year than originally planned.

Voltabox is confident that it will soon be able to conclude further value-adding acquisitions in Germany and the USA. The developer and manufacturer of electromobility solutions based on modern lithium-ion technology promises that the acquisitions will provide a significant boost for the company's three operating segments - Voltapower, Voltaforce and Voltamotion.

About Voltabox AG

Voltabox is a high-growth e-mobility system provider for industrial applications. Its core business lies in intrinsically safe, highly developed high-performance lithium-ion batteries that are modular and in serial production. The battery systems are used in buses for public transportation, forklifts, automated guided vehicles and mining vehicles. The company also develops and produces high-quality lithium-ion batteries for selected mass market applications, such as high performance motorcycles. Voltabox has production sites at its headquarters in Delbrück, Germany, and in Austin, Texas, as well as a development site in Aachen, Germany. Additional information about Voltabox can be found at www.voltabox.ag/en/.

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