Kontrolmatik jumps after its unit signs production deal with US-based ONE

Kontrolmatik Teknoloji Enerji ve Muhendislik

20/05/2025 09:30

** Shares in Kontrolmatik KONTR.IS rise around 7% after its subsidiary Pomega signed a production agreement with U.S. battery producer Our Next Energy (ONE)

** The Turkey-based engineering company says Pomega will manufacture lithium iron phosphate (LFP) battery cells developed by ONE

** Brokerage Deniz Yatirim says this development is "positive in terms of the realisation of (Kontrolmatik's) future targets and supporting the revenue growth"

** Kontrolmatik has set Pomega revenue targets of $105 million for 2025, $315 million for 2026 and $450 million for 2027, the brokerage notes

** Kontrolmatik's stock is among top performers on Turkey's main BIST-100 index .XU100

 (Reporting by Arda Dipova)

 ((Arda.dipova@thomsonreuters.com))