READING, Pa., June 11, 2019 (GLOBE NEWSWIRE) -- EnerSys (NYSE:ENS), the global leader in stored energy solutions for industrial applications, today announced it plans to expand its Thin Plate Pure Lead (TPPL) capacity over the next three years with over $100 million in additional capital spending along with an expected 15% increase from continued focus on Lean principles. Combined, the company expects these two efforts to increase TPPL capacity by over $500 million annually. The company also plans to continue its commercialization efforts for GreenSeal® Bi-Polar battery technology licensed from Advanced Battery Concepts, LLC (ABC).
“We remain very excited about adding this technology to our portfolio of products,” said Joern Tinnemeyer, Chief Technology Officer of EnerSys. “We’ve worked with ABC for over two years now and are pleased with how this technology has continued to develop and mature. GreenSeal® technology is delivering on its promise to reduce lead content over traditional batteries, improve battery performance, increase cycle life, reduce weight, increase power density, reduce recharge time and improve reliability. We believe Bi-Polar could be a game changer and result in a new generation of power and energy solutions.” This technology is backward compatible with most EnerSys applications and will likely be less capital intensive than traditional lead acid battery manufacturing processes.
Mr. Tinnemeyer commented, “GreenSeal® technology and next generation TPPL offers great promise for the continued relevance and viability for lead acid batteries. No other technology combines superior lead acid battery performance along with manufacturability as we have seen in GreenSeal® batteries. It lends itself well to a lean process environment. GreenSeal® technology will leverage many parts of our existing TPPL expertise, supply chain, plant and equipment. We believe it could become a leading technology of the industry.”
Caution Concerning Forward-Looking Statements
This press release and oral statements made regarding the subjects of this release, contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, or the Reform Act, which may include, but are not limited to, statements regarding EnerSys' earnings estimates, plans, objectives, expectations, intentions and other statements contained in this press release that are not historical facts, including statements identified by words such as "believe," "plan," "seek," "expect," "intend," "estimate," "anticipate," "will," and similar expressions. All statements addressing operating performance, events, or developments that EnerSys expects or anticipates will occur in the future, including statements relating to sales growth, earnings or earnings per share growth, and market share, as well as statements expressing optimism or pessimism about future operating results, are forward-looking statements within the meaning of the Reform Act. The forward-looking statements are based on management's current views and assumptions regarding future events and operating performance, and are inherently subject to significant business, economic, and competitive uncertainties and contingencies, satisfying conditions and obligations contained in contracts and changes in circumstances, many of which are beyond EnerSys' control. The statements in this press release are made as of the date of this press release, even if subsequently made available by EnerSys on its website or otherwise. EnerSys does not undertake any obligation to update or revise these statements to reflect events or circumstances occurring after the date of this press release.
Although EnerSys does not make forward-looking statements unless it believes it has a reasonable basis for doing so, EnerSys cannot guarantee their accuracy. The foregoing factors, among others, could cause actual results to differ materially from those described in these forward-looking statements. For a list of other factors which could affect EnerSys' results, including earnings estimates, see EnerSys' filings with the Securities and Exchange Commission, "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations," including "Forward-Looking Statements," set forth in EnerSys' Annual Report on Form 10-K for the fiscal year ended March 31, 2019. No undue reliance should be placed on any forward-looking statements.
For more information, contact Thomas O’Neill, Vice President & Treasurer, EnerSys, P.O. Box 14145, Reading, PA 19612-4145, USA. Tel: 610-236-4040 or by emailing investorrelations@enersys.com; Web site: www.enersys.com.
