WEIMAR, Germany, March 31, 2025 /PRNewswire/ -- On March 26th, Wanhua Chemical Group Battery Technology Co., Ltd ("Wanhua Chemical") and IBU-tec ( "IBU-tec"), the leading European manufacturer of lithium iron phosphate materials, successfully held a signing ceremony for the Joint Research and Development Agreement (JDA) in Weimar, Germany. The partnership with IBU-tec does not affect the progress of concrete talks with further companies on far-reaching cooperation, which Wanhua Chemical is currently conducting.
Within the framework of the partnership, IBU-tec and Wanhua Chemical will carry out a scale-up towards the industrial scale in the coming months. The partners expect to have reliable results in the third quarter of the current year as to whether the joint development will meet market requirements in Europe and North America. If this is the case, it will open up extensive potential for the production of an LFP cathode material in Germany that would be part of a European value chain in the battery sector.
Dr. Hua Weiqi, Executive Vice President of Wanhua Chemical, Mr. Wang Xiaoxing, General Manager of Wanhua Battery Industry Company Limited, Mr. Jörg Leinenbach, CEO of IBU-tec and Mr. Ulrich Weitz, CPO of IBU-tec, attended the signing ceremony. This event marks the formal opening of the in-depth cooperation between the two parties in the field of lithium iron phosphate (LFP) materials.
In the field of battery materials, lithium iron phosphate has gradually become a mainstream product in the new energy automobile and energy storage market with its advantages of high safety and long cycle life. In recent years, Wanhua Chemical has established a technology platform integrating battery material technology development, equipment technology development, and electric core application technology research, and its lithium iron phosphate products have been upgraded continuously. In this cooperation, the company will establish a local supply chain to supply LFP materials to European customers.
Dr. Hua Weiqi said: LFP shows the dominant position (almost 80% share in EV in Chinese market), and is almost the only commercially available solution for energy storage. Wanhua Chemical adheres to the globalization strategy and has set up 7 R&D centers in Beijing, Shanghai, Hungary, Spain, etc., 9 production bases and more than 10 overseas sales organizations, and IBU-tec, as a local German Li-ion material factory, focuses on the R&D and production of LFP, and owns a mature R&D and production system.
In the future, the two sides will also discuss the establishment of a joint laboratory in Europe, to begin cooperation in the field of battery innovation and R&D, to provide strong local R & D support for the development of the European battery industry.
About Wanhua Chemical:
Wanhua Chemical is a globally operated chemical new materials company, ranking 16th of C&EN's Global Top 50 chemical companies, with over 30000 employees worldwide. Its business covers polyurethanes, petrochemicals, performance chemicals, emerging materials and future industries. The industries include homeware and furniture, sports and leisure, automobiles and transportation, building and construction, electronics and electrical appliances, personal care, and green energy.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Wanhua Chmeical and IBU-tec signed a Joint Development Agreement for the development of a European LFP battery material, creating the basis for a European value chain in the battery sector
Wanhua Chmeical and IBU-tec signed a Joint Development Agreement for the development of a European LFP battery material, creating the basis for a European value chain in the battery sector
Beko has secured its first sustainability-linked loan to expand renewable energy capacity, strengthen earthquake resilience, and promote next-generation eco-efficient appliances and diversity, with sustainability targets tied to emission reduction and increased women's representation.
ISTANBUL, Dec. 22, 2025 /PRNewswire/ -- Beko, the leading global home appliance company, has signed a €100 million sustainability-linked loan with IFC, a member of the World Bank Group. Marking Beko's first sustainability-linked loan, the agreement reinforces the company's commitment to integrating sustainability across its value chain and driving innovation in energy-efficient technologies.
IFC is the world's largest development institution focused on the private sector in emerging markets. The newly secured financing will facilitate the ongoing operation of Beko's two solar power plants dedicated to renewable energy use and strengthen six production facilities which will improve resilience against potential earthquake damage. The loan will also accelerate Beko's global research and development (R&D) into digitalization and the creation of smart, resource-efficient, and health-focused appliances, supporting sustainable living worldwide.
This five-year financing, structured in accordance with the company's Sustainability-Linked Financing Framework, includes the company's 2030 targets to reduce greenhouse gas emissions and strengthen gender diversity within the workforce; reflecting IFC's focus on inclusive and climate-resilient growth.
"The sustainability-linked loan with IFC marks yet another important milestone in our journey toward building a net-zero future," said Barış Alparslan, Chief Financial Officer of Beko. "By investing in renewable energy, earthquake resilience, and R&D for smarter, more efficient products, we're strengthening our ability to meet global sustainability expectations while continuing to deliver value to our customers and communities worldwide. Beko is proud to deepen its collaboration with IFC as we scale innovation that respects the world and is respected worldwide."
"Our investment in Beko underscores the importance of building resilient infrastructure and advancing R&D to ensure the long-term competitiveness and sustainability of the region's manufacturing sector," said Ashruf Megahed, IFC Regional Industry Head for Manufacturing, Agribusiness and Services in the Middle East and Central Asia. "By working with leading companies like Beko, we want to drive economic resilience and create jobs, generating positive effects for the wider economy."
ABOUT BEKO
Beko is an international home appliance company with a strong global presence, operating through subsidiaries in more than 55 countries with a workforce of over 50,000 employees and production facilities spanning multiple regions—including Europe, Asia, Africa, and the Middle East. Beko has 22 brands owned or used with a limited license (Arçelik, Beko, Whirlpool*, Grundig, Hotpoint, Arctic, Ariston*, Leisure, Indesit, Blomberg, Defy, Dawlance, Hitachi*, Voltas Beko, Singer*, ElektraBregenz, Flavel, Bauknecht, Privileg, Altus, Ignis, Polar). Beko became the largest white goods company in Europe with its market share (based on volumes) and reached a consolidated turnover of 10.6 billion Euros in 2024. Beko's 28 R&D and Design Centers & Offices across the globe are home to over 2,300 researchers and hold more than 4,500 international registered patent applications to date. The company has achieved the highest score in the S&P Global Corporate Sustainability Assessment (CSA) in the DHP Household Durables industry for the seventh consecutive year (based on the results dated 16 October 2025) and has been included in the Dow Jones Sustainability Indices for the eighth consecutive year.** The company has been recognized as the 17th most sustainable company on TIME Magazine and Statista's 2025 list of the World's Most Sustainable Companies. Beko's vision is 'Respecting the World, Respected Worldwide.'
www.bekocorporate.com
*Licensee limited to certain jurisdictions.
**The data presented belongs to Arçelik A.Ş., a parent company of Beko.
About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing economies. In fiscal year 2025, IFC committed a record $71.7 billion to private companies and financial institutions, leveraging private sector innovation and investment to help create a world free of poverty on a livable planet.
www.ifc.org
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Beko Secures €100 Million Sustainability-Linked Loan from IFC to Drive Global Innovation and Net-Zero Transformation
