As electric vehicles (EVs) begin to take off in the worldwide pursuit of reducing CO2 emissions, AKASOL AG of Germany has positioned itself as a key battery supplier, primarily for commercial vehicles. They specialize in liquid-cooled, compact battery systems. Most of the company’s current market is in Europe, where more and more cities are mandating the transition to low- and zero-emission vehicles. But with one major U.S. partnership in hand (the details are confidential) and a belief in future potential here, the company is searching for the site of its first American manufacturing plant.
AKASOL completed an IPO last year and is on firm financial footing for the investment they’ll need for their anticipated growth. According to financial analysts, revenues will increase to $200 million by 2022, from about $70 million this year.
The company has been at this a long time. They were originally founded as a non-profit back in 1990 at Germany’s Technical University of Darmstadt. But they came to batteries in a very round-about way. “Our original goal was to participate in the world championships in solar car racing,” said AKASOL’s CEO Sven Schulz. The founding group of researchers – Schulz and three partners – was soon heavily involved in racing. “We won three times in a row!” Schulz boasted.
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