Major battery materials order supports growth and diversification

Research evidence excerpt

Major battery materials order supports growth and diversification

Chemicals

IBU-tec advanced materials AG (IBU GR)

EQUITY RESEARCH Quick Take

June 4, 2026

Major battery materials order supports growth and Price: €16.90

Price Target: €30.40 diversification

Rating: Overweight Takeaways

Key Statistics: Ibu-Tec announced that it has secured a major development order for

Symbol FSE: IBU GR battery materials from an undisclosed international energy company. The

52-Week Range 6.12 - 27.40 contract carries a low-single-digit €m value and is expected to convert Market Cap 75.8

ADV (3 mo) 7,118 into revenue during FY26E. In our view, the announcement is relevant for

Shares Out (M) 4.8 several reasons.

First, the order provides further validation of Ibu-Tec's positioning in Research Analysts: battery materials. Demand for localised and diversified battery supply Tim Wunderlich

Cantor Europe chains continues to increase as Western customers seek to reduce their

+49 176 1031 4495 dependence on Chinese suppliers. Securing a development contract from

Tim.Wunderlich@cantor.com a major international energy company reinforces Ibu-Tec's credibility as

a strategic partner in this transition and highlights its growing relevance One-Year Price History within the European battery ecosystem.

25 Second, the order highlights Ibu-Tec's potential to diversify both its

15 customer base and battery materials portfolio over time. Based on

10 management's disclosures, the customer is active outside the automotive

06/25 09/25 12/25 03/26 06/26 sector, likely non-German, and the project relates to synthetic graphite

IBU GR Created by BlueMatrix for battery anodes. This contrasts with PowerCo, Volkswagen's battery

subsidiary, which is expected to source LFP cathode material from

Ibu-Tec.