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Manz AG opens up new growth market with investment in superconductor manufacturer
Reutlingen, February 23, 2022 - Manz AG, a global high-tech engineering company with a comprehensive technology portfolio, is acquiring a stake in MetOx Technologies Inc. and thus tapping into superconductor technology as an important future market for energy supply. Superconductors will play an important role in meeting the immense future demand for electricity in metropolitan areas, where the conventional supply network will reach its performance limits. Electromobility in particular will face challenges in metropolitan regions in this regard, which can be met with the new technology. With this investment, Manz AG intends to significantly accelerate the industrialization and mass production of superconductors. To this end, Manz is contributing its expertise in vacuum coating technology acquired in the solar sector as well as competencies from roll-to-roll, laser and automation technology. The investment follows Manz AG's corporate strategy of further developing its technology portfolio in promising future industries through targeted M&A activities. MetOx Technologies Inc, a venture-stage company based in Texas, USA, is a specialist in the manufacture of superconductors. The company has developed a breakthrough manufacturing process for the cost-effective production of HTS (high-temperature superconductor) tapes. Addressable markets for this key enabling technology include replacement of copper-based cables in metropolitan power supply, magnets for nuclear fusion power generation, and medical technology. Martin Drasch, CEO of Manz AG, comments: "We are convinced that MetOx's technology will play an important role in the global energy transition, as well as in the expansion of the charging infrastructure in the course of the growth of electric mobility. Therefore, we are looking forward to contributing our know-how, for example in vacuum coating technology, and to developing and building industrial-scale production facilities together with MetOx." Company profile: Focusing on the automotive industry and electromobility, battery manufacturing, electronics, energy as well as medical technology, Manz develops and builds innovative and efficient production solutions: From customized single machines for laboratory production or pilot and small series production, to standardized modules and systems, to turnkey lines for mass production. Technologically, Manz's production equipment is based on many years of experience in the fields of automation, laser processing, inspection systems, and wet chemistry. With currently around 1,400 employees, the Manz Group develops and produces in Germany, Slovakia, Hungary, Italy, China and Taiwan. Sales and service subsidiaries also exist in the USA and India. Manz AG was founded in 1987 and has been listed on the Frankfurt Stock Exchange since 2006. In fiscal year 2020, the group generated revenues of around 237 million euros.
cometis AG End of Media Release Issuer: Manz AG Key word(s): Industry
23.02.2022 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | Manz AG |
| Steigäckerstr. 5 | |
| 72768 Reutlingen | |
| Germany | |
| Phone: | +49 (0) 7121 9000-0 |
| Fax: | +49 (0) 7121 9000-99 |
| E-mail: | info@manz.com |
| Internet: | http://www.manz.com |
| ISIN: | DE000A0JQ5U3 |
| WKN: | A0JQ5U |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1285637 |
| End of News | DGAP Media |
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1285637 23.02.2022
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