# IBU-tec secures multimillion-euro LFP battery material order from global automaker

IBU-tec advanced materials AG signed two contracts for development and production of LFP cathode material (IBUvolt LFP402) for a global automotive group. Total order volume is in the mid-single-digit million euro range.

- Type: Contract
- Announced: 2024-10-08
- Where: Weimar, Germany
- Value: $5.50M (5.00M EUR)
- Status: announced
- Products: LFP cathode material, IBUvolt LFP402
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [IBU-tec advanced materials AG](https://endata.com/companies/68762.md) (supplier)

## Sources

- [eqs-news.com](https://www.eqs-news.com/news/corporate/ibu-tec-advanced-materials-ag-battery-materials-breakthrough-multimillion-euro-lfp-order-for-global-automotive-group-secured/7f4f4257-c54c-4542-afba-2f05c13a048d_en), 2024-10-08: "IBU-tec has signed two extensive contracts for the further development and production of LFP cathode material on behalf of a global automotive group."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.