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2016-11-21

EQS-Adhoc: Leclanché and Narada Power sign strategic global alliance

S Group-Ad-hoc: Leclanché SA / Key word(s): Alliance
Leclanché and Narada Power sign strategic global alliance

21.11.2016 / 06:30
Release of an ad hoc announcement pursuant to Art. 53 KR.

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Leclanché and Narada Power sign strategic global alliance

- Leclanché licenses its lithium-ion cell technologies to battery market
leader Narada Power, listed on the Shenzhen Stock Exchange

- Narada to make strategic investment in Leclanché

- Joint manufacturing in China to achieve scale and reduce production
costs

YVERDON LES BAINS, SWITZERLAND and HANGZHOU, CHINA, November 21, 2016:
Leclanché SA (www.leclanche.com), the leading vertically integrated energy
storage solution company, and Zhejiang Narada Power Source Co Ltd, the
leading global battery manufacturer, announced today a strategic
partnership for the manufacturing and development of lithium-ion battery
technology for the Chinese and global markets.

- Leclanché will support Narada with technology transfer to achieve low-
cost, scale manufacturing of Leclanché's proprietary high-cycling and
fast-charging lithium titanate (LTO) and high energy density graphite
nickel manganese cobalt (G-NMC) battery storage technologies.

- Narada will manufacture both G-NMC and LTO at its facilities in
Hangzhou, China, including the opening of its new 2.5 GWh fabrication
facility in 2017. This will complement manufacturing at Leclanché's
Willstätt, Germany and Yverdon-les-Bains, Switzerland sites, providing
scale and more competitive costings to achieve best-in-class global
pricing to meet the needs of multiple end-markets - including
stationary, microgrid, commercial and industrial and electric vehicle
applications.

- Leveraging the fast-charging and high-cycle capabilities of LTO
technology, the alliance will aggressively pursue significant market
share in China, the largest electric bus market in the world ($4b
estimated size according to Navigant Research).

- Narada will make an equity investment in Leclanché alongside licensing
for technology transfer.

Anil Srivastava, CEO of Leclanché SA, said: "This game-changing alliance
positions Leclanché and Narada for worldwide leadership in the energy
storage market. The alliance will cover the broadest range of battery
technologies and systems integration expertise to competitively deliver a
full range of energy storage applications across stationary, transport and
commercial & industrial markets."

Mr. Bo Chen, president of Narada, said: "We are confident that Leclanché's
GNMC and LTO are advanced-class technologies. Through our cooperation we
can drive global-leading technology performance. The alliance provides a
foundation for expanding our market share in fast-growing sectors including
for electric vehicles, renewable energy integration and telecom. Through
our equity investment, Leclanché becomes Narada's strategic systems
integration partner which is well-placed to enhance our ability to offer
integrated energy storage solutions worldwide. I am confident that this
alliance will grow to be a world leader in energy storage."

Detailed terms will not be disclosed until the execution of definitive
agreements, expected on or around 31st December 2016. Alexa Capital LLP is
advising Leclanché on the transaction.

* * * * *

About Leclanché
Leclanché is one of the world's leading fully vertically integrated battery
energy storage solution providers. It delivers a wide range of turnkey
energy storage solutions for homes, small offices, large industries,
electricity grids, as well as hybridization for mass transport systems such
as bus fleets and ferries. Established in 1909, Leclanché has been a
reliable partner for battery energy storage solutions for over 100 years.
Founded in the tradition of Georges Leclanché, the inventor of the dry cell
battery, Leclanché today has a rich portfolio of Battery Energy Storage
Systems (BESS) that include bespoke battery systems from industry leading
lithium-ion solutions.

Leclanché is listed on the Swiss stock exchange. SIX Swiss Exchange: ticker
symbol LECN | ISIN CH 011 030 311 9

About Narada
Zhejiang Narada Power Source Co., Ltd. engages in the provision of stored
energy solutions for industrial applications. Its products include back-up
power, power supply and system, and power and energy storage systems. These
products are widely used in telecom, electric power, railway and other
infrastructure applications, including renewable energy and integration
with solar photovoltaic and wind energy generation. The company was
established in 1994 in Hangzhou, China and is listed on the Shenzhen stock
exchange.

Disclaimer
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.
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.

* * * * *

Contacts

Investor Relations
Hubert Angleys
Leclanché
E-Mail: invest.leclanche@leclanche.com
Tel.: +41 (0) 24 424 65 00

Media Contacts
Global
Florent Gaillard
Leclanché
E-Mail: florent.gaillard@leclanche.com

North America
Richard Anderson / Henry Feintuch
Feintuch Communications
Tel.: +1 (718) 986-1596 / (212) 808-4901
E-Mail: leclanche@feintuchpr.com

UK
Simon Barker
Questor Consulting
Tel.: +44 7866 314331
E-Mail: Sbarker@questorconsulting.com

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End of ad hoc announcement

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Language: English
Company: Leclanché SA
Av. des Sports 42
1400 Yverdon-les-Bains
Switzerland
Phone: +41 (24) 424 65-00
Fax: +41 (24) 424 65-20
E-mail: investors@leclanche.com
Internet: www.leclanche.com
ISIN: CH0110303119, CH0016271550
Valor: A1CUUB, 812950
Listed: SIX Swiss Exchange

End of News EQS Group News Service
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522665 21.11.2016

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