In recent weeks and in the Blackstone Battery days in February 2021 there have been key success stories and press coverage regarding the development of our German subsidiary Blackstone Technology GmbH and its progress in the industrialisation and extensive financing of the 3D-printed battery cell. Its parent company Blackstone Resources AG has now taken this success into account by significantly increasing its share capital and open more possibilities. This creates the prerequisite for raising further external debt capital for the growth plans outlined for the company. As already published, the tenfold increase in production is already planned for in 2022. LOI delivering our 3D-printed batteries to 5 customers of up to approx. Euro 184 million has been received.

The rapid developments over the last year were only possible thanks to an extremely motivated team of experienced engineers, competent external research facilities and the move into its modern production facility in Döbeln, Saxony. Its shareholder provide now the further equity capital needed to implement its ambitious plans.

Acquiring engineers in production management, 3D-printing, paste production, laboratory management, IT, maintenance, product development and small series production automation, as well as AI systems, has been completed for 2021. The company will start its initial production in September 2021.