US-based university Georgia Tech places largest order to date for next year delivery, creating a sound foundation for the 2023 turnover.

THIS COMPANY ANNOUNCEMENT CONTAINS INSIDER INFORMATION

Georgia Institute of Technology (Georgia Tech) based in Atlanta - US, places largest order to date for next year delivery. The slot-die system is a pilot scale manufacturing R2R production unit for battery research.

FOM Technologies is pleased to announce the receipt of a large system order from Georgia Institute of Technology, Atlanta USA. The slot-die system will be dedicated to battery research at Georgia Tech's newly established Pilot-Scale Manufacturing Facility for Strategic Energy Research. The research center is expected to open in 2023

This announcement contains insider information for two reasons:

1) It is the first time FOM Technologies sells a machine at this value.
2) This order marks FOM Technologies entry into the most complicated pilot R2R scale production segment.

The order is a little less than twice the size of our current largest order, but for commercial reasons the parties do not want to disclose actual numbers for the order. The order will not change the 2022 financial guidance for turnover and EBITDA, but it means that FOM will start
to issue financial guidance for 2023.

CEO Michael Stadi states: "It's a genuine milestone achievement for FOM Technologies, and we are naturally super proud to be part of this multi-million-dollar research center project. Our system will be the center piece of the research facility, so we have great expectations for this new collaboration with Georgia Tech. As the delivery is scheduled for next year, it does not impact our revenue for 2022 - but it is laying a solid foundation for our 2023 pipeline and growth plans going forward."

 
CURRENT AND UNCHANGED FINANCIAL GUIDANCE FOR 2022

Revenue:       Range from DKK 29 mio. to DKK 32 mio.
EBITDA:         Range from DKK 1 mio. to DKK 3 mio.

FIRST FINANCIAL GUIDANCE FOR 2023

Revenue:       Range from DKK 36 mio. to DKK 40 mio.
EBITDA:         Range from DKK 2 mio. to DKK 4 mio

ABOUT GEORGIA TECH

The Georgia Institute of Technology, commonly referred to as Georgia Tech in the state of Georgia, is a public research university and institute of technology in Atlanta, Georgia. Georgie Tech Is one of the leading and highest-ranking technology focused universities in the USA.

To visit website:  https://www.gatech.edu/


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KONTAKT/CONTACT INFORMATION:

Selskab/Company:
FOM Technologies A/S
CEO Michael Stadi
Phone: +45 20 66 60 44
E-mail: ms@fomtechnologies.com
www.fomtechnologies.com

Certified Advisor:
Norden CEF A/S
John Norden
Phone: +45 20 72 02 00
E-mail: jn@nordencef.dk
www.nordencef.dk

Kommunikation/Communication:
Gullev & Co. ApS
Boris Gullev
Phone: +45 31 39 79 99
E-mail: borisgullev@gmail.com
www.gullev.co