DGAP-News: paragon AG / Key word(s): Miscellaneous

30.03.2017 / 15:00
The issuer is solely responsible for the content of this announcement.

paragon Subsidiary Voltabox Receives New Major Order for Lithium-Ion Battery Modules

- Major client issues order for total energy content of 10 megawatt hours (MWh)

- Traction batteries based on proven lithium-nickel-manganese-cobalt-oxide technology (NMC)

- Production on new, highly automated assembly line at Delbrück site

- Delivery in current fiscal year

Delbrück, Germany, March 30, 2017 - paragon AG [ISIN DE0005558696] has announced a new order from a major customer for the German Voltabox subsidiary today.

With its innovative technology concepts, the wholly owned Voltabox subsidiary has successfully established itself as a leading provider in individual electromobility submarkets within a short period of time. The advantages of lithium-ion technology, the forward-looking energy system design, the active thermal management and the intelligent battery management from Voltabox provide vehicles and machines with high load requirements with performance and cost benefits that simply aren't possible with any other drive technology available on the market today.

"This new major order is further confirmation for Voltabox of our leading manufacturing technology for mass producing battery modules," said Klaus Dieter Frers, founder and CEO of paragon AG and managing director of Voltabox. "Our clear strategic positioning in individual electromobility submarkets helps us to immediately implement the planned growth in this segment of the paragon Group and to quickly expand our market position as a leading provider of efficient lithium-ion battery systems."

The current order will use Voltabox's NMC technology, which has already been extensively tested in practice. Batteries based on these cathode materials combine several advantages of other battery technologies: the high capacity of lithium cobalt oxide, the good high-current capability of lithium nickel oxide and the overcharge stability and price benefits of lithium manganese oxide. In addition, they offer a high average discharge voltage and can be charged relatively quickly. Thanks to the variety of possible compositions, they can be optimized well for specific applications - such as for performance or capacity, for example. Consequently, this cellular chemistry is preferred for electric vehicle drives.

By the end of 2016, Voltabox had already provided more than 18 MWh of energy in the local public transport (trolleybuses) and intralogistics (forklifts) submarkets. The new order for a total of 10 MWh will contribute to the further dynamic expansion of the electromobility segment in the current fiscal year as planned. The battery modules will be produced on the new, highly automated assembly line, which is currently commencing operation at the Delbrück site. This will significantly increase the production capacity for battery modules in Germany.

More information about paragon AG at www.paragon.ag/en/investors.

Company Profile

paragon AG (ISIN DE0005558696), which is listed in the regulated market (Prime Standard) of the Frankfurt Stock Exchange, develops, produces and distributes forward-looking solutions in the field of automotive electronics, e-mobility and body kinematics. As a direct supplier of the automotive industry, the company's portfolio includes the Electronics operating segment's innovative air-quality sensors, high-end acoustic systems and state-of-the-art display instruments. With the Voltabox subsidiaries, the Group is also active in the rapidly growing Electromobility operating segment with its own lithium-ion battery systems developed in-house. In the Mechanics operating segment, paragon develops and produces adjustable body components such as adaptively extendable spoilers. In addition to the company headquarters in Delbrück (North Rhine-Westphalia, Germany), paragon AG and its subsidiaries operate sites in Suhl (Thuringia, Germany), Nuremberg (Bavaria, Germany), St. Georgen (Baden-Württemberg, Germany) and Bexbach (Saarland, Germany) as well as in Kunshan (China) and Austin, Texas (USA).

Financial Press Contact & Investor Relations

paragon AG

Dr. Kai Holtmann
Artegastrasse 1
33129 Delbrück, Germany
Phone: +49 (0) 52 50 - 97 62-140
Fax: +49 (0) 52 50 - 97 62-63
E-mail: kai.holtmann@paragon.ag

Additional features:

Picture: http://newsfeed2.eqs.com/paragon/560205.html
Subtitle: Voltabox NMC-Modul

30.03.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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