TESVOLT AG, corporate

TESVOLT AG,

24.11.2022 - 09:03:17

EQS-News: TESVOLT acquires a stake in software company Wendeware and secures a technological advantage in energy management

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About TESVOLT

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TESVOLT AG specialises in battery storage systems for the commercial and industrial sectors. The innovative company produces intelligent lithium storage systems with power ratings from 30 kilowatt hours through to multiple megawatt hours. TESVOLT uses high-performance battery cells from Samsung SDI. TESVOLT manufactures its commercial storage system solutions in series in its own Gigafactory for commercial battery storage at the Wittenberg site and delivers them worldwide. Since 2014, TESVOLT has implemented more than 4,000 storage system projects worldwide and employs more than 180 people. The company has already received several awards, including the German Entrepreneur Award in the ?Rising Stars? category, ?Innovator of the Year? from ?TOP 100? and the smarter E Award in the ?Outstanding Projects? category.

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www.tesvolt.com

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About Wendeware

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Wendeware AG is a spin-off company of the Fraunhofer Institute for Industrial Mathematics (ITWM), where the development of its energy management system started back in 2011. From this applied research, a product emerged that monitors and controls energy generators, consumers and storage systems, regardless of manufacturer. Intelligent algorithms, partly based on artificial intelligence, facilitate energy management strategies for solving complex problems, across different properties and in real micro-grids. Wendeware AG was founded in 2019 and has since established itself internationally with many customers. Based on Wendeware?s long-term research and development cooperation with the Fraunhofer ITWM, intelligent solutions will continue to feed into its products in the future.

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Press contact

Ingo Valldorf

Corporate & Financial Communications

Tel: +49 3491 - 8797-234

Email: ingo.valldorf@tesvolt.com

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Contact for business media

edicto GmbH

Svenja Liebig / Axel M?hlhaus

Tel. +49 (0)69-905505-56

24.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.Archive at www.eqs-news.com

Language: English Company: TESVOLT AG Am Heideberg 31 06886 Lutherstadt Wittenberg

Germany Phone: +49 3491 8797 100 Fax: +49 3491 8797 102 E-mail: info@tesvolt.com Internet: https://www.tesvolt.com/de/ EQS News ID: 1495175 ? End of News EQS News Service

1495175??24.11.2022?CET/CEST

@ dgap.de