Dürr increases interest in LaTherm
Next step in energy efficiency technology
Bietigheim-Bissingen, March 26, 2012 – Dürr will increase its stake in heat storage specialist LaTherm from currently 8% to 26% by the end of 2012. Dortmund-based LaTherm GmbH develops and sells latent heat accumulators, which are used to decouple and store heat from industrial processes and cogeneration plants and utilize it at other locations. The heat, which is stored in special containers, can be fed, e.g., into the heating systems of buildings. It can be used off-grid, with time and location not dependent on the heat source.
Ralph Heuwing, Chief Financial Officer at Dürr AG and responsible for the Clean Technology Systems division within the Board of Management: “The utilization of waste heat reduces CO2 emissions by more than 90% compared to a traditional heat supply system. In view of rising energy prices, it provides a cost-efficient and sustainable alternative to conventional energy supply. In Germany alone the market value of unused waste heat is estimated at € 25 billion per year. LaTherm offers innovative technology for recycling waste heat.”
Industrial waste heat is fed into the LaTherm containers via a water cycle. The containers store up to 2.5 MWh of heat using the storage medium sodium acetate. Sodium acetate is an environmentally sound medium that is also used as a food additive. The heat loss in the containers is less than 0.5% per day. LaTherm has already received several prestigious awards for its technology.
The planned increase to a 26% stake is subject to the achievement of pre-defined performance targets in 2012. LaTherm is the third acquisition that Dürr made in expanding the portfolio of the new Clean Technology Systems division. Dürr is reviewing further potential acquisitions within the scope of the “Dürr 2015” strategy. Clean Technology Systems is developing its business in environmental and energy-efficient technologies and planning to achieve sales revenues in excess of € 200 million by 2015. In 2011, sales revenues reached just under € 90 million.
Dürr is a mechanical and plant engineering group that holds leading positions in the world market in its areas of operation. It generates a good 80% of its sales in business with the automotive industry. It also supplies the aircraft, machinery, chemical, and pharmaceutical industries with innovative production and environmental technology. The Dürr Group operates in the market with four divisions. Paint and Assembly Systems plans and builds paint shops and final assembly systems for the automobile industry. Application Technology provides automated paint application with its robot technologies. Machinery and systems from the Measuring and Process Systems division are used in engine and transmission manufacturing and in final vehicle assembly, among other areas. The fourth division, Clean Technology Systems, is focused on processes to improve energy efficiency and on exhaust air purification technology. Dürr has 49 business locations in 22 countries worldwide. The Group achieved sales of € 1.9 billion with approximately 6,800 employees in 2011.