iQ International AG to boost production capacity in Italian plant to meet anticipated demand
Zug/Switzerland - 5 June, 2019 (pta013/05.06.2019/11:20) - The Swiss based battery producer, iQ International AG (ISIN CH0451424300 / WKN A2PAA5 / Symbol IQL), is taking steps to upgrade its existing battery plant, SIA (S.I.A. Industria Accumulatori S.p.A. ,. www.sia-batteries.com) in Bologna, Italy, to an "Advanced Battery Factory" (ABF). This expansion will ultimately boost SIA´s capacity of 800,000 batteries to 2.4 million batteries per year. iQ International is anticipating higher market demand for their innovative flooded lead acid starter batteries with 360 degrees electrolyte mixing.
"Upgrading SIA with iQ's advanced manufacturing technologies and methodologies is one of the early steps in our global expansion strategy. SIA will also become a showcase where our partners can see the benefits of a fully integrated iQ Advanced Battery Factory. We are creating a new chapter in the history of lead acid batteries, enhancing their performance, and increasing the number of applications in which lead acid batteries can successfully compete with lithium", says Kevin T. Loman, CEO of iQ International AG.
The process of SIA becoming an iQ ABF includes installing highly innovative machinery, incorporating new production methodologies and utilizing higher quality materials. The battery plates produced at SIA will be corrosion resistant, curing one of the major causes of battery failure in hot climates. The production processes and materials will expand the life of the battery significantly and iQ's batteries will be lighter and less expensive than equivalently performing conventional batteries. When the complete production system is installed and running smoothly, we expect the batteries to outperform the best OEM starter batteries available today. Additionally, in planned future developments, the new technology will expand the number of applications in which lead acid batteries can compete successfully against lithium. SIA will also receive an upgrade to their IT systems to allow for Industry 4.0 production controls.
About iQ International AG
iQ International AG is listed on the Berlin Stock Exchange Open Market segment and is a Sustainable Technologies Company that manufactures and distributes highly efficient lead acid batteries mainly for the global automotive and storage markets. Its award-winning innovative technology is used to create superior long-lasting OEM approved Starting-Lighting-Ignition (SLI) batteries. Batteries with iQ International AG technologies are designed to generate better performance in today's highly electrified vehicles, particularly vehicles with Start-Stop applications. The circular 360 degrees Mixing(TM) technology is the first significant innovation to the flooded starter battery in decades. Automatic mixing of electrolyte inside the battery by passive mixing elements ensures uniform acid density for higher sustained performance throughout the entire life of the battery. The patented technology was awarded the coveted Automechanika innovation award 1st prize in 2010 and became a first prize winner of the GreenTec Awards in 2017. For more information, visit www.iqint.com.