Wolftank Group launches innovative coating technology in Brazil

Press release                                                                                                                    Innsbruck, 21 August 2023 

Wolftank Group launches innovative coating technology in Brazil 

• New standard enables broad use of the patented DOPA® system with immediate effect
• Great market potential for Wolftank: target of 3,000 tank refurbishments in five years
• Savings of over 7,500 tons of CO₂ emissions possible

Wolftank Group (Wolftank-Adisa Holding AG, ISIN: AT0000A25NJ6) is rolling out the Group's industrial coating solutions in Brazil following the first successfully implemented tank coating projects for a leading South-American energy company. Effective immediately, a new standard^[1] issued last week allows for the widespread use of the DOPA® system on underground tanks in use. Wolftank's patented technology can convert single-walled tanks used for the storage of potentially hazardous liquids such as fuels or chemicals into double-walled tanks. A leakage warning system ensures maximum protection for the environment. Using the DOPA® technology, tanks can be refurbished instead of being expensively replaced. The double-walled coating makes them – regardless of their age – even more valuable than new tanks, as they are also suitable for e-fuels.

The group, which has been present since 2020 with its local subsidiary Wolftank Latinoamérica, sees significant potential for the application and aims to carry out around 3,000 tank refurbishments in Brazil over the next five years as the market ramps up. There are currently around 42,000 refuelling stations in Brazil with a total of 147,000 underground tanks in use, which are on average 23 years old and thus nearing the end of their lifespan without replacement or high-quality refurbishment. With the use of DOPA®, the tanks are restored to like-new condition, thus avoiding a time-consuming, costly, and resource-intensive replacement.

Peter Werth, CEO of Wolftank Group, says: "We know this situation very well from Italy, which faced a similar market situation about fifteen years ago. Since then, we have made a massive contribution with our DOPA system; our product is practically unrivalled due to its simple, fast and cost-effective use combined with the highest quality. I don't know anyone who has refurbished more tanks than we have. Thus, we were able to recognise the emerging demand in the huge Brazilian market at an early stage and position ourselves accordingly. We have the right product at the right time and are ready to take full advantage of this big potential."

Wolftank Group is a leader in this field with thirty years of experience and more than 25,000 tanks refurbished. "Refurbish instead of replace" forms a key building block in the Group's sustainable business strategy. Tank refurbishments contribute to a significant reduction of CO₂: In Brazil, the avoided production of steel for 3,000 tanks alone can save a total of 7,571 tonnes of CO₂. 

^[1] NBR 16619, published on 16 August 2023

About Wolftank Group
Wolftank Group is a leading technology partner for energy and environmental solutions operating worldwide. In the field of energy mobility and logistics, the Group supports customers in more than 20 countries to implement projects in an efficient and environmentally friendly way. For this, it develops and implements tomorrow's technologies to decarbonize transport and build the infrastructure for zero-emission mobility - such as turnkey delivery of modular hydrogen and LNG refueling facilities. In the area of environmental solutions, the offering includes due diligences for environmental risks, customized services for soil and groundwater remediation, as well as recycling. The group's subsidiaries in eight countries on three continents are managed by Wolftank-Adisa Holding AG, based in Innsbruck, Austria. The share of Wolftank-Adisa Holding AG (WKN: A2PBHR; ISIN: AT0000A25NJ6) is listed in the direct market plus segment of the Vienna Stock Exchange AG and in the m:access of the Munich Stock Exchange and is traded on Xetra, the Frankfurt and Berlin Stock Exchanges. Further information: www.wolftankgroup.com

Contact:
Wolftank-Adisa Holding AG
phone: +43 (512) 345726
email: investor-relations@wolftankgroup.com

Disclaimer:
This communication contains forward-looking statements based on current knowledge, expectations, and projections of Wolftank-Adisa Holding AG's management about the future. All statements are subject to potentially uncertain assumptions and risks that could cause actual results to differ materially from those expressed or implied by such statements. Such statements can be identified using words such as "expect", "plan", "anticipate", "target", "estimate", "assume" or similar. Consequently, statements relating to the future are only valid at the time they are made. The Company does not assume any obligation to adjust, correct or monitor statements made in this communication in the future.