FAMUR Group investing in energy storage and electro-mobility. Acquires IMPACT CLEAN POWER TECHNOLOGY
FAMUR Group has acquired a majority stake in Impact Clean Power Technology – Poland’s leading manufacturer of battery systems. This is a further step which confirms completion of its strategic aims the company presented in 2021.
The acquisition of Impact Clean Power Technology – following last year’s investment in the photovoltaic sector – allows FAMUR to enter new sectors related to green transformation, diversifying its business activities.
Impact Clean Power Technology produces and integrates advanced systems for the storage of energy in lithium-ion cells and is planning to develop systems which utilize hydrogen fuel cells. It also delivers large scale energy storage facilities for the Renewable Energy Source (RES) sector and industrial power systems. Impact Clean Power Technology has three key product lines which include battery systems for transportation and industry uses, as well as stationary energy storage facilities for the RES sector. Impact Clean Power Technology mainly supplies the public transportation sector, as well as energy storage facilities and applications used in the mining and robotics industries. Its clients include Polish and international manufacturers of vehicles, including buses, trams, trolleybuses and electric powered railways, along with companies in the following sectors: transportation, manufacturing, energy production (conventional and RES), railways and telecommunications. Clients include Solaris Bus and Coach, which use battery systems sourced from Impact Clean Power Technology, as well as Alexander Dennis Ltd, Voith SE & Co, Kiepe Electric Carrosserie HESS AG, Skoda Electric and Normet.
Impact Clean Power Technology expects to generate income of more than 250 million PLN in 2022, predicting that in the next 4-5 years annual incomes will grow to 1 billion PLN. Its EBITDA between 2023 and 2024 will be burdened by the costs of dynamic expansion of its scale of operations, whereas from 2025 the expected EBITDA margin should increase to around 10-12%.
“Our company has created a very capable team of engineers and professionals who for years have worked in our laboratory to create new generations of innovative battery systems. Impact Clean Power Technology products are distributed to markets all around Europe, the United States and New Zealand. In the energy storage sector, we are involved in breakthrough RES projects in Poland. Using advanced solutions we support global developments in zero-emission economies, including the coming hydrogen power revolution. We are pleased because the consolidation of our potential with that of FAMUR Group will allow us to further develop new product lines, as well as increasing our production output and diversifying our customer and supplier bases. I believe our cooperation is a powerful impulse to develop the RES sector in Poland and abroad.” Bartłomiej Kras, chairman of the board and co-founder of Impact Clean Power Technology.
“The start of our partnership with Impact is another stage in the development strategy at FAMUR Group in terms of converting the Company into a holding investing in green transformation and achieving a target of 70% income not related to coal power by 2024. The first step was to enter the large scale photovoltaic sector and PV solutions for the B2B sector. Faced with dynamic economic changes and transformative processes in Polish energy production we are resolutely changing FAMUR Group in line with the strategy agreed last year designed to transform it into a holding investing in green transformation. The acquisition of Impact Clean Power Technology is in line with these assumptions. Storing energy is the next future sphere of activities following the PV segment which diversifies the activities of FAMUR Group. Together with Impact Clean Power Technology we want to utilise advantages achieved over the years in order to develop and scale our business in the growing market of battery and energy storage systems.” Mirosław Bendzera, chairman of the board at FAMUR SA.
“Being a stable and long-term investor, TDJ supports FAMUR Group in the process of its green transformation and active search for new areas to develop into. The next investment step into photovoltaics is the start of cooperation with the largest Polish firm operating on the battery systems market aimed at transport and heavy duty applications. The start of our partnership with Impact Clean Power Technology allows many synergies, both in the growing energy storage market as well as in terms of the development of technologies utilising hydrogen cells.” Tomasz Domogała, chairman of the board and owner of TDJ.
The cooperation between TDJ and the FAMUR Group with Impact Clean Power Technology is intended to achieve synergy effects, inter alia, in terms of supporting the development of production capacity, both in the short and long term. It will also enable the acquisition of working capital intended to increase the scale of operations in the area of battery systems and energy storage, including the diversification of our client portfolio in Poland, as well as increasing expansion into foreign markets. The purpose of the potential consolidation is also the development of new products.
Through this transaction, FAMUR acquired a total of 18,475,729 Impact Clean Power Technology shares, representing 51% of the share capital and approximately 59% of votes at the general meeting, for the price of 59.12 million EUR. The purchase of assets will be financed with funds from the issue of FAMUR Green Bonds. The company issued them in 2021, acquiring 400 million PLN. These funds are intended for investments related to the sustainable development of FAMUR Group, especially for financing the development, purchase, construction and operation of investments, which on the basis of and in accordance with the Green Bond Framework, will be classified as “green projects”.