Founder Ulrich Weitz resigns from the Supervisory Board and becomes an additional member of the Executive Board as Chief Product Officer of the company

Public disclosure of inside information according to Article 17 of Regulation (EU) No 596/2014

IBU-tec advanced materials AG: Founder Ulrich Weitz resigns from the Supervisory Board and becomes an additional member of the Executive Board as Chief Product Officer of the company

Weimar, 30 October 2024 – IBU-tec advanced materials AG ("IBU-tec", ISIN: DE000A0XYHT5) announces changes to its Supervisory Board and Executive Board. Ulrich Weitz resigns from the Supervisory Board with effect from 31 October 2024. He was previously Chairman of the body. At a virtual Supervisory Board meeting today, the former member of the Supervisory Board, Sandrine Cailleteau, was elected as the new Chairwoman and Dr Jens Thomas Thau was elected as her Deputy. Isabelle Weitz remains a member of the Supervisory Board.

At today’s meeting, the Supervisory Board also appointed Ulrich Weitz as a new member of the IBU-tec Executive Board with effect from 1 November 2024. Alongside the Chief Executive Officer (CEO), Jörg Leinenbach, he will act as the company's Chief Product Officer (CPO) and in particular drive forward the further development and marketing of products in the field of battery materials. This is IBU-tec's response to the dynamic development in the battery materials division, which has recently manifested itself in an order worth millions of euros from a global automotive group. Ulrich Weitz founded the company in its current form in 2001 and was already its CEO until 2023. The Weitz family currently holds around 47 per cent of IBU-tec shares.

EXPLANATORY PART

Jörg Leinenbach, CEO of IBU-tec: "I am delighted to welcome Ulrich Weitz back to the company's Executive Board. We have enjoyed many years of trusting cooperation, which we will now continue together on the Executive Board. We are currently experiencing an economic breakthrough in our battery business and need to create additional resources for this area at the Executive Board level. With his expertise and network, Ulrich Weitz is the ideal person to manage and drive forward IBU-tec's sustainable success in battery materials. After a challenging year 2024 for IBU-tec, especially in the chemical sector, we are looking ahead to 2025 with optimism."

Ulrich Weitz, designated CPO of IBU-tec: "In Jörg Leinenbach, our company has an outstanding CEO who will steer the fortunes of the company as a whole. I can therefore concentrate all my energy on our growth area of battery materials in the future. The recently announced major order is probably just the start of a very lively positive development that is becoming increasingly apparent. I am delighted that Jörg Leinenbach and I will be leading IBU-tec to success side by side on the Executive Board in this situation."

About IBU-tec

The IBU-tec Group develops and produces innovative materials of the highest quality for industry. It combines unique, partly patent-protected thermal process technology with the process and material know-how of around 230 highly qualified employees.

The company's own products include LFP battery material, which is an important component of batteries for electromobility and stationary energy storage, as well as solutions for air purification, resource conservation and the reduction of plastic packaging. IBU-tec is thus positioned for the long term in global megatrends - especially climate and environmental protection - and has an international customer base ranging from innovative medium-sized companies to global corporations.

Contact

edicto GmbH
Axel Mühlhaus
Eschersheimer Landstraße 42-44
60322 Frankfurt
t +49 69 905505-52
IBU-tec@edicto.de