/EIN News/ — Amsterdam, 22 December 2022 — AMG Advanced Metallurgical Group N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) announces that its subsidiary, AMG LIVA, has sold its first commercial industrial battery Hybrid Energy Storage System (“HESS”) to Wipotec, GmbH, a leading global provider of intelligent weighing and inspection technology located in Southern Germany. The HESS battery system is an ecosystem combining Lithium-Ion and Vanadium Redox Flow batteries with artificial intelligence routines and self-learning algorithms to maximize efficiency, safety, and lifetime of the batteries. HESS will be integrated into the facility’s power system.
The Wipotec HESS system has dual use routine, namely grid side and demand side energy and power management, as well as integrating solar, wind and geothermal energy systems. These will reduce energy costs, assist in peak shaving strategies, and ultimately reduce grid costs by optimizing energy self-sufficiency and stabilize the power grid by frequency containment reserve. This energy system will integrate power, heating and cooling energy management as well as integrate geothermal with Power-to-Heat (P2H) capabilities. With LIVA’s HESS, Wipotec will realize a consequent sector coupling strategy by reducing energy cost and increasing production reliability.
AMG LIVA is a new growth platform for industrial battery installations worldwide. AMG Engineering will provide the engineering and project management services and AMG Titanium Alloys will produce the vanadium electrolyte from gasification residues, adding a circular economy dimension.
AMG is a global critical materials company at the forefront of CO2 reduction trends. AMG produces highly engineered specialty metals and mineral products and provides related vacuum furnace systems and services to the transportation, infrastructure, energy, and specialty metals & chemicals end markets.
AMG Clean Energy Materials segment combines AMG’s recycling and mining operations, producing materials for infrastructure and energy storage solutions while reducing the CO2 footprint of both suppliers and customers. AMG Clean Energy Materials segment spans the vanadium, lithium, and tantalum value chains. AMG Critical Materials Technologies segment combines AMG’s leading vacuum furnace technology line with high-purity materials serving global leaders in the aerospace sector. AMG Critical Minerals segment consists of AMG’s mineral processing operations in antimony, graphite, and silicon metal.
With approximately 3,300 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, the United States, China, Mexico, Brazil, India, Sri Lanka, and Mozambique, and has sales and customer service offices in Japan (www.amg-nv.com).
For further information, please contact:
AMG Advanced Metallurgical Group N.V. +1 610 975 4979
Certain statements in this press release are not historical facts and are “forward looking”. Forward looking statements include statements concerning AMG’s plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans and intentions relating to acquisitions, AMG’s competitive strengths and weaknesses, plans or goals relating to forecasted production, reserves, financial position and future operations and development, AMG’s business strategy and the trends AMG anticipates in the industries and the political and legal environment in which it operates and other information that is not historical information. When used in this press release, the words “expects,” “believes,” “anticipates,” “plans,” “may,” “will,” “should,” and similar expressions, and the negatives thereof, are intended to identify forward looking statements. By their very nature, forward looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward looking statements will not be achieved. These forward looking statements speak only as of the date of this press release. AMG expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward looking statement contained herein to reflect any change in AMG’s expectations with regard thereto or any change in events, conditions, or circumstances on which any forward looking statement is based.
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