ElringKlinger AG acquires majority interest in fuel cell specialist New Enerday

DGAP-News: ElringKlinger AG / Key word(s): Acquisition01.07.2014 / 14:38---------------------------------------------------------------------Dettingen/Erms, Neubrandenburg (Germany), July 1, 2014 +++ ElringKlinger AGhas acquired from the consortium of existing owners a 75% interest in NewEnerday GmbH, based in Neubrandenburg, Germany. The purchase agreementswere signed on the day prior to this announcement.In acquiring a 75% interest in the fuel cell system specialist,ElringKlinger AG is looking to strengthen its business activities relatingto high-temperature SOFCs (solid oxide fuel cells) and extend its ownexpertise centered around associated electronics, reformer technology andsystem integration. New Enerday already possesses marketable LPG-basedproducts in an output range of 350 to 750 W, which, if required, can beinterconnected on a modular basis to provide a higher system output.Additionally, the transaction will give ElringKlinger access to importantindustrial property rights. Together with New Enerday, ElringKlinger nowhas control of all processes within the value chain and system-levelintegration.ElringKlinger anticipates that the acquisition will be concluded over thecourse of the third quarter. The entity is to be included in the scope ofconsolidation of the ElringKlinger Group effective from July 1, 2014. Theeuro-based purchase price is towards the lower end of the single-digitmillion range. The other 25% interest will remain with the founder of thecompany.New Enerday GmbH develops and manufactures electricity generators based onfuel cell technology. This involves the use of high-temperature SOFCs thatare capable of generating electrical energy directly from fossil fuels suchas natural gas, LPG, bioethanol or diesel. Reaching up to 40%, theelectrical efficiency is almost twice as high as that achieved by gasolineand diesel engines of the same output range. The fuel cell systems emitonly a minimal amount of pollutants and produce hardly any noise duringoperation. New Enerday has a workforce of 12 employees at itsNeubrandenburg site, focusing mainly on development and pilot production.Promising areas of sale include, in particular, the on-board power supplyof boats and yachts as well as recreational vehicles. Additionally, thefocus is on the development and small-batch series production of systemsused as emergency standby power units to protect sensitive installationsagainst the effects of power failures. Besides, miniature LPG-fueledcombined heat/power generation systems for domestic use in single-familyhouses and holiday homes are in the development phase.ElringKlinger already has extensive know-how relating to high-temperaturefuel cells. The division responsible for fuel cell technology develops andmanufactures fuel cell stacks - a key component of SOFC technology -together with their housings for the thermal insulation of thehigh-temperature core of the system.Together with cooperation partners, the company is currently developing afuel cell unit for the low-emission on-board supply of power in trucks andother commercial vehicles. It is to be used to convert diesel intoelectrical energy at a high rate of efficiency. The conversion process isvirtually noise- and emission-free. The output rates are up to 3.5 kW.For further information, please contact:ElringKlinger AG - Investor Relations/Corporate PRStephan HaasMax-Eyth-Straße 272581 Dettingen/ErmsTel.: +49 (0)7123-724-137E-Mail: stephan.haas@elringklinger.com End of Corporate News---------------------------------------------------------------------01.07.2014 Dissemination of a Corporate News, transmitted by DGAP - acompany of EQS Group AG.The issuer is solely responsible for the content of this announcement.DGAP's Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at www.dgap-medientreff.de and www.dgap.de---------------------------------------------------------------------Language:    English                                                 Company:     ElringKlinger AG                                                     Max-Eyth-Straße 2                                                    72581 Dettingen/Erms                                                 Germany                                                 Phone:       071 23 / 724-0                                          Fax:         071 23 / 724-9006                                       E-mail:      stephan.haas@elringklinger.de                           Internet:    www.elringklinger.de                                    ISIN:        DE0007856023                                            WKN:         785602                                                  Indices:     MDAX                                                    Listed:      Regulierter Markt in Frankfurt (Prime Standard),                     Stuttgart; Freiverkehr in Berlin, Düsseldorf, Hamburg,               Hannover, München                                         End of News    DGAP News-Service  ---------------------------------------------------------------------  276121 01.07.2014