Leclanché announces more than 2.5 times increase in 2018 revenues: a record over the last 22 years
- Revenue in 2018 is expected to be more than CHF 47 million, compared to CHF 18 million in 2017
- The Company enters 2019 with a solid order book and awarded projects of more than CHF 60 million
- Appointment of Philip Broad as Executive Vice President of e-Transport Solutions
- The Company has added more than 90 people in 2018, predominantly to support the growth in the e-Transport Solutions business
DALLAS; ANDERSON, Indiana and YVERDON LES BAINS, Switzerland, March 6, 2019: Leclanché SA (SIX: LECN), one of the world’s leading energy storage solutions companies, today announced that the Company has achieved a record level of revenue in 2018. The company has also announced that it has appointed Philip (Phil) Broad as Executive Vice President to spearhead Leclanché’s e-Transport Solutions business. Based at the Company’s headquarters in Yverdon, Switzerland, Phil Broad will report to Anil Srivastava, CEO of Leclanché. He joins the executive leadership team which is structured around the Company’s three business units, Stationary Solutions, e-Transport Solutions and Specialty Battery Systems.
Anil Srivastava, CEO of Leclanché said: “After achieving record revenues in 2018, we have entered into 2019 with a solid order book and awarded projects, in particular in the e-Transport Solutions business and the e-Marine market where we have achieved significant growth with confirmed purchase orders of more than CHF42 million to be delivered in 2019 and 2020. This is a clear market validation of our strategy and confirmation that selling complete solutions, based on our own advanced in-house cell technology and energy management systems, coupled with our grid and EV knowhow, make us unique and the partner of choice for customers.
I wish to thank all our customers for their trust in Leclanché. I thank all our shareholders for their patient investment, in particular FEFAM, whose large investment enabled us to implement the growth plan announced in 2015.
I am also pleased to announce the appointment of Phil Broad as Executive Vice President of the e-Transport Solutions business. Since joining Leclanché in August last year, Phil has made significant strides in growing the business and I am delighted that he will now be leading our fast-growing e-Transport Solutions business unit, effective from March 2019. I am confident that Phil will help us to build on our success to date and consolidate our position as “the Supplier of Choice” for energy storage solutions for transport companies focused on marine and land transport, including rail and buses, and commercial vehicles.
In order to build on our success in the e-Transport market, the Company added more than 90 people in 2018 who will predominantly support the growth of our e-Transport Solutions business. In addition, we have committed CHF 10 million to increase our production capacity and meet growing customer demand.”
Leclanché’s e-Transport Solutions power the electrification of transport and deliver integrated battery solutions, from cell to battery management system, for marine, rail and commercial vehicles, capable of interfacing intelligently with their respective charging infrastructures.
Leclanché is currently working on the world’s largest fully electric ferry in Denmark, a landmark project backed by the EU, and the Company recently signed a partnership with KONGSBERG, the leading global maritime systems integration company, to deliver electric and hybrid power solutions. These solutions are set to deliver game-changing efficiencies and reduce the environmental impact of marine transportation with cutting-edge autonomous and crewed vessel new-builds.
In addition to the breakthroughs in the e-Transport Solutions business, Leclanché has seen significant growth in demand for its Stationary Solutions, which accelerate the integration of renewables into the grid and include grid to EV storage solutions.
Leclanché recently achieved the important milestone of exceeding 100MWh of stationary storage projects in operation. Its energy storage solutions have helped to clean up the island of Graciosa’s energy supply by integrating over 70% renewable energy into the island’s grid. This project demonstrates that it is possible to reduce our dependence on dirty fuels, in this case diesel, and substantially increase the integration of renewables into the electricity supply TODAY.
Phil Broad - Biography
On March 1, 2019, Phil Broad was appointed Executive Vice President of e-Transport. He joined Leclanché in August 2018 as Vice President of Commercial Vehicle leading Application Engineering, Programme Management & Sales. He has over 20 years of experience in the commercial vehicle business in both the on and off highway industry. Philip has a proven track record of winning large global profitable contracts in the commercial vehicle market. He has successfully worked with global brands such as Caterpillar / Perkins, Volvo, Scania, MAN & JCB. He has lived and worked in Europe for the last 15 years for Honeywell Turbo Technologies Sarl in Switzerland where he held various positions in Programme Management, Sales Management & Business Leadership positions in the turbocharger industry. Philip holds a B. Eng (Hons) in Systems Engineering from the University of Huddersfield in the UK.
Headquartered in Switzerland, Leclanché SA is a leading provider of high quality energy storage solutions designed to accelerate our progress towards a clean energy future. Leclanché’s history and heritage is rooted in over 100 years of battery and energy storage innovation and the Company is a trusted provider of energy storage solutions globally. This coupled with the Company’s culture of German engineering and Swiss precision and quality, continues to make Leclanché the partner of choice for both disruptors, established companies and governments who are pioneering positive changes in how energy is produced, distributed and consumed around the world. The energy transition is being driven primarily by changes in the management of our electricity networks and the electrification of transport, and these two end markets form the backbone of our strategy and business model. Leclanché is at the heart of the convergence of the electrification of transport and the changes in the distribution network. Leclanché is the only listed pure play energy storage company in the world, organised along three business units: stationary storage solutions, etransport solutions and specialty batteries systems. Leclanché is listed on the Swiss Stock Exchange (SIX: LECN).
SIX Swiss Exchange: ticker symbol LECN | ISIN CH 011 030 311 9
This press release contains certain forward-looking statements relating to Leclanché's business, which can be identified by terminology such as "strategic", "proposes", "to introduce", "will", "planned", "expected", "commitment", "expects", "set", "preparing", "plans", "estimates", "aims", "would", "potential", "awaiting", "estimated", "proposal", or similar expressions, or by expressed or implied discussions regarding the ramp up of Leclanché's production capacity, potential applications for existing products, or regarding potential future revenues from any such products, or potential future sales or earnings of Leclanché or any of its business units. Page 4/4 You should not place undue reliance on these statements. Such forward-looking statements reflect the current views of Leclanché regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. There can be no guarantee that Leclanché's products will achieve any particular revenue levels. Nor can there be any guarantee that Leclanché, or any of the business units, will achieve any particular financial results.
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1Awarded projects means that Leclanché is selected as a supplier. But the purchase order confirmation is subject to certain conditions such as: completion of project finance in the Stationary Storage business unit or successful completion of the pilot testing & certification by the customer in the e-Transport business unit.
2 FEFAM means: AM INVESTMENT SCA, SICAV-SIF - Liquid Assets Sub-Fund, together with FINEXIS EQUITY FUND - Renewable Energy Sub-Fund, FINEXIS EQUITY FUND - Multi Asset Strategy Sub-Fund, FINEXIS EQUITY FUND – E Money Strategies Sub-Fund (also called Energy Storage Invest) and, all these funds being in aggregate the main shareholder of Leclanché, hereunder referred to as “FEFAM”.