Munich, Shenzhen/PRC, November 07, 2022 – Pyramid AG’s (ISIN: DE000A254W52) subsidiary faytech Tech Co Ltd. today announced it has signed a multi-year framework agreement with Innovative Charging Solutions (Suzhou) New Energy Technology Co., Ltd. （“ICS”）which is invested by Volkswagen Group China & DU-power (Suzhou) New Energy Technical Co., Ltd  to produce and supply non-touch control displays for use in Autonomous Flexible Charging Stations powered by ICS to be deployed to the burgeoning European market. The framework agreement further expands on the already successful cooperation of the two companies who are both committed to the development of market leading technologies related to the Electric Vehicle charging field.

"We strongly believe that with faytech’s commitment to technological innovation we are well aligned with ICS to help them to develop and accelerate the adoption of EV charging technologies in Europe and beyond," said Arne Weber, CTO of Pyramid AG and founding director of faytech Tech Co Ltd. "faytech is focused on providing our clients the advanced research, development and scaling of new technologies, and we look forward to working in close partnership with ICS for the duration of our agreement and beyond."

"This agreement between faytech and ICS matches well with our long-standing commitment to collaborating with various industry leaders that we believe we are uniquely positioned to provide," said Michael Faass, faytech’s Sales Director for APAC. "We are excited to extend our work with ICS to provide them the best technical support for their Autonomous Flexible Charging Stations projects to help position them for success in this growing market segment."

“It is very delightful for us to cooperate with such a professional supplier here in China.” said Mr. René Christoffersen, CFO of Innovative Charging Solutions (Suzhou) New Energy Technology Co., Ltd.
Engagement between faytech Tech Co Ltd. and ICS on joint projects covered under the agreement is already underway.

For more information about Pyramid AG and faytech Tech Co Ltd. products, please visit www.pyramid-computer.com or www.faytech.com

Contacts:
faytech Tech Co Ltd.
Bernard van Strien
External Communications, faytech Tech Co Ltd.
[email protected]

Pyramid AG
Andreas Empl
Vorstand
www.pyramid-ag.com
[email protected]