PITTSBURGH, Jan 3 (Bernama-GLOBE NEWSWIRE) —Matthews International Corporation (NASDAQ GSM: MATW) (“Matthews”), a global provider of industrial technologies and renewable energy equipment, today announced that total orders received by the Company during the fiscal 2023 first quarter for its energy storage solutions business exceeded $200 million. The orders have been received from multiple electric vehicle (“EV”), fuel cell, and battery manufacturers to provide equipment and services to the fast-growing business.
“We are very pleased to see continued strength in orders for our energy storage solutions. This order rate reflects industry interest in the proprietary nature of our unique solutions,” said Joseph Bartolacci, President and CEO of Matthews. “Over the past two fiscal years, our energy storage solutions business has more than tripled. With these orders, we are potentially on track this fiscal year for another year of very significant growth.”