Manz AG, the German engineering company, has recently taken an unconventional path to strengthen its involvement in the battery industry. By investing in its subsidiary, Customcells TĂŒbingen GmbH, Manz AG has acquired a 40 percent stake in the company, which focuses on the development and future manufacturing of battery cells in TĂŒbingen, Germany. However, the latest development reveals that Manz AG has decided to exchange its shares in Customcells TĂŒbingen GmbH for a stake in the parent company, Customcells Group.
This shift means that Manz AG will no longer possess a direct stake in Customcells TĂŒbingen but will now hold an indirect stake in the company through its investment in the Customcells Group. The decision to invest in the parent company underscores Manz AG’s confidence in the Customcells’ economic prospects, as stated in their press release. The Customcells Group comprises Customcells Itzehoe GmbH, with locations in Itzehoe and TĂŒbingen, and also includes a stake in E-Lyte Innovations GmbH, specializing in electrolyte development. Furthermore, the Customcells Group holds an ownership interest in the Porsche joint venture Cellforce, which operates battery production facilities in Reutlingen-Nord/Kirchentellinsfurt, coincidentally where Manz AG’s headquarters are situated.
Apart from Manz AG, other notable shareholders in the Customcells Group include 468 Capital, Vsquared Ventures, Porsche Ventures, and financial investor PRIMEPULSE SE. The specific breakdown of share distribution among these shareholders has not been disclosed in the announcement.
Martin Drasch, CEO of Manz AG, expressed his perspective on the investment, stating, “With our investment in the Customcells Group, we are further strengthening our position in the battery industry and venturing into numerous new areas. The Customcells Group is driving comprehensive innovation, not only in the aviation sector but in various other domains as well. As a high-tech engineering company, we are directly and indirectly involved in these advancements.”
Dirk Abendroth, CEO of the Customcells Group, welcomed Manz AG’s investment, viewing it as an endorsement of their strategic direction. Abendroth commented, “We are working towards establishing Customcells as a premium manufacturer and global player in the battery industry. The support of our investors and shareholders is of utmost importance in this endeavor, and we remain committed to fostering collaborations in the equipment segment.”
Manz AG’s decision to invest in the Customcells Group reflects the company’s dedication to staying at the forefront of technological advancements and expanding its reach in the battery industry. The partnership holds promising prospects for both entities, as they strive to contribute to the development of innovative solutions in the ever-evolving field of battery technology.
