What Penox does

PENOX is a privately-held German industrial firm founded in 1994 that manufactures lead oxides and battery additives for the global lead-acid battery industry. The company operates four production sites in Germany (Ohrdruf), Spain (Barcelona, via COPLOSA), Mexico (Monterrey/Dr. Gonzalez), and South Korea (Yeongcheon), employing approximately 180 people and serving battery manufacturers across Europe, NAFTA, and Asia. PENOX inherited more than 150 years of combined experience from predecessor companies Heubach & Lindgens and Metaleurop, positioning it as one of the world's largest and the only multi-site European producer of lead oxides.

The company's product portfolio spans three categories. Lead oxides include Red Lead (Pb3O4), Battery Oxide, and Litharge (PbO), produced via Barton and ball mill processes and proprietary LE2/ME2 furnaces. Battery additives include the registered TBLS+® tetrabasic seeding material, Expander Mix Types, and Red Lead Plus (RL+), a surface-functionalized formulation that combines red lead with micronized tetrabasic material to reduce formation energy and enhance cycle life. Engineering products include complete lead oxide production systems (Barton B140/B180 reactors, P20 reactors, litharge/red lead furnaces) and Pierre Gy-based sampler systems sold to industrial oxide producers.

PENOX operates a B2B direct-sales model with a global sales organization led by Global Sales Director Thorsten Peters, targeting enterprise lead-acid battery manufacturers. Revenue is generated through one-time product sales of lead oxides and battery additives, engineering services, and equipment sales, with quote-based pricing and no publicly disclosed price list. The company also offers R&D testing services through its Germany-based product development center equipped with Eirich, Arbin, and ATT instrumentation for electrical testing and material characterization. Recent strategic activity has emphasized capacity expansion (Mexico 2019, Korea 2021) and battery additive product innovation, with REACH compliance providing a regulatory moat in the European market.

Name

Penox

Legal name

PENOX Group GmbH

Website

https://penoxgroup.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

101–250 employees

Short description

PENOX is a German privately-held industrial firm founded in 1994 that manufactures lead oxides and battery additives for global lead-acid battery manufacturers, operating four production sites across Germany, Spain, Mexico, and South Korea with proprietary additive technology.

Ownership category

akta.pro rank

Product category

Lead Oxide Manufacturing

NAICS

Battery Manufacturing (33591)

SIC

Miscellaneous Electrical Machinery, Equipment & Supplies (3690)

akta.pro primary industry

Battery Cells (Li-ion, LFP, Sodium-ion, Lead-acid, NiMH) (IMAGAHAA)

akta.pro secondary industry

Automotive Batteries & 12V/Low-Voltage Energy Storage Manufacturing (IMACAJAJ)

Keywords

• Lead oxide production
• Battery additives
• Lead-acid battery materials
• Battery oxide manufacturing
• Lead chemical manufacturing

Headquarters

HQ city

Eschborn

HQ country

Germany

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Lead Oxide Sales: Manufacturing and sale of lead oxides including Red Lead, Battery Oxide, and Litharge to lead acid battery producers. One of the world's largest producers of lead oxides with operations in Germany, Spain, Mexico and Korea.
2. Battery Additives Sales: Growing sales of battery additives including TBLS+®, Expander Mix Types, and Red Lead Plus to lead-acid battery manufacturers. 2019 was a record year for Battery Additives sales.
3. Engineering Services and Equipment: Engineering services including plant layout and design for lead oxide production, and sale of production equipment (Barton reactors, P20 reactors, litharge ovens, samplers) to oxide producers internationally.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

PENOX manufactures and sells lead oxides (Red Lead, Battery Oxide, Litharge), battery additives (TBLS+®, Expander Mix Types, Red Lead Plus), and lead oxide production equipment and engineering services to industrial lead-acid battery manufacturers worldwide. The company also operates an R&D center offering electrical and material characterization testing for battery customers.

Product overview

PENOX is a manufacturer of lead oxides and battery additives for the lead-acid battery industry. The company operates a portfolio of products organized into three main categories: Lead Oxides (Red Lead, Battery Oxide, and Litharge), Battery Additives (TBLS+®, Expander Mix Types, and Red Lead Plus), and Engineering products (Lead Oxide Production Systems and Sampler Systems). The company also provides R&D testing services from its Germany R&D center, offering electrical testing and material characterisation for battery customers. PENOX offers the only producer in Europe with multiple production sites and maintains global operations in Germany, Spain, Mexico, and Korea.

Differentiator

Problem solved

Functional benefit

Products and services

• Red Lead Lead tetroxide (Pb3O4) powder used as a raw material in lead-acid battery production, available in multiple grades including Advanced Red Lead formulations. Sold to lead-acid battery manufacturers globally.
• Battery Oxide Lead oxide produced via Barton reactor or ball mill processes for use as the active material in lead-acid battery positive and negative plates. Sold to lead-acid battery manufacturers globally.
• Litharge Lead monoxide (PbO) powder used in battery and industrial applications, produced in LE2 and ME2 litharge furnaces and sold to industrial customers.
• TBLS+® Tetrabasic lead sulfate (4BS) seeding material used in negative plates of lead-acid batteries, typically combined with Advanced Expanders, to develop the 4BS crystal structure that improves battery performance. Sold to lead-acid battery manufacturers.
• Expander Mix Types Specialized expander formulations used in negative plates of lead-acid batteries to optimize performance characteristics. Sold to lead-acid battery manufacturers.
• Red Lead Plus (RL+) Surface-functionalized red lead incorporating micronized tetrabasic (4BS) seeding material, combining the benefits of red lead and TBLS+® to enable tetrabasic curing, reduce formation energy, enhance cycle life, and deliver higher initial capacity in lead-acid batteries. Sold to lead-acid battery manufacturers.
• Lead Oxide Production Systems Complete lead oxide production systems including Barton B140 and B180 reactors, P20 reactors, and LE2/ME2 litharge and red lead furnaces, covering full installation from ingot handling through milling, transport, storage, and packaging. Sold and engineered for international lead oxide producers.
• Sampler Systems Complete range of sampler systems based on the sampling theory of Pierre Gy, used for solids and pulps in battery and chemical oxide production as well as large-scale mineral processing. Sold to industrial producers.
• R&D Testing Services Comprehensive battery additive and material evaluation service delivered from PENOX's German R&D center, equipped with Eirich, Arbin, and ATT instruments for electrical testing (Formation, Capacity, Cycle, MHT, Cyclic Voltametry) and material characterization (ICP, Pb/PbO2/H2O and Hg porosimetry, 4BS via FTIR, particle size distribution, SEM, XRD, BET, EDX). Provided to lead-acid battery customers.

Quantifiable outcome

• 2019 was a record year for Battery Additives sales
• +4 more outcomes

Named customers3 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Seven partnerships are on record, tiered minor and core.

• Advanced Battery ConceptsminorStrategic or Co-development PartnerPENOX cooperates with Advanced Battery Concepts company on their bi-polar technology for advanced lead batteries. Advanced Battery Concepts is a member of the GreenSeal license. PENOX is testing and developing new products in cooperation with this partner.
• International Lead Association (ILA)coreOthersILA is a focused and dynamic organisation dedicated to serving lead producers and other companies that have a direct interest in lead and its use. PENOX is associated with ILA for latest news on Lead Acid Batteries, recycling, REACH, and Lead Matters.
• EUROBATcoreOthersEUROBAT is the Association of European Automotive and Industrial Battery Manufacturers. PENOX is listed as associated with EUROBAT, which publishes important political statements for the battery industry.
• University of IlmenauminorStrategic or Co-development PartnerPENOX cooperated with University of Ilmenau/Germany on a master thesis: 'Influence of inorganic seeding materials on structure and electro-chemical properties of positive active materials in modern lead-acid batteries.'
• Fraunhofer ISCminorStrategic or Co-development PartnerPENOX cooperated with Fraunhofer ISC/Würzburg/Germany on research into inorganic seeding materials and their influence on structural and electrical properties of positive active mass in lead-acid batteries.
• ELOA Consortium (European Lead Oxide Association)coreOthersPENOX participated in the ELOA consortium to pass the REACH registration deadline of all products by November 30th, 2010. The consortium cooperated with Cefic, ELSA, ILA, and i2a to complete REACH registration for all lead and antimony products.
• Pyosa S.A. de CVminorStrategic or Co-development PartnerJoint venture established in 1996 between PENOX and Pyosa S.A. de CV in Monterrey, Mexico. In 2006, PENOX purchased all shares of their partner and relocated the operation to Dr Gonzalez, near Monterrey.

Scale indicators7 records

Recent moves10 records

Expansion highlights5 records

Broad incumbents

• EnerSys: Global industrial battery manufacturer with substantial lead-acid product lines and proprietary reserve power and motive power offerings. A major PENOX customer / potential vertical integrator operating across the lead-acid value chain.
• Exide Industries: India's largest lead-acid battery manufacturer and one of the largest globally, serving automotive, industrial, and motive power markets. A significant lead-acid OEM that represents both a customer and supply-chain parallel.
• Clarios: World's largest automotive battery manufacturer (formerly Johnson Controls Power Solutions), producing roughly one-third of all lead-acid batteries sold globally. A major buyer of PENOX's lead oxides and a potential vertical integration threat.
• East Penn Manufacturing: Privately held North American lead-acid battery manufacturer and one of the largest in the world. A major downstream customer for PENOX's NAFTA-region lead oxide supply, with potential to in-source.
• Eco-Bat Technologies: Global leader in lead recycling and lead product manufacturing, including lead oxides and alloys for battery applications. A broader incumbent in the lead value chain whose product portfolio overlaps PENOX's battery oxide offering.

Emerging players

• Hoppecke: European lead-acid battery and energy storage specialist focused on industrial traction, rail, and reserve power applications. Comparable as a niche-focused European battery player whose specialty positioning aligns with PENOX's specialty additive strategy.

Direct peers

• Hammond Group: US-based manufacturer of lead oxides, battery additives (expanders, tetrabasic lead sulfate), and battery performance chemicals. Directly comparable to PENOX as another specialty lead-chemistry materials supplier serving the global lead-acid battery industry.
• Gravita India: Indian producer of lead and lead products including lead oxides, lead alloys, and battery materials from secondary lead. Closely comparable as a multi-product lead-materials company with battery industry exposure.
• RSR Corporation: US lead recycling and lead oxide producer supplying battery-grade oxides to lead-acid battery manufacturers. A direct competitor in the North American lead oxide supply market that PENOX Mexico serves.

Others

• Eirich: German manufacturer of mixing, kneading, and processing equipment whose technology is used in PENOX's R&D center and which serves adjacent battery materials customers. An enabling technology partner rather than a direct competitor, but closely tied to the lead-oxide process equipment ecosystem.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubepenoxgroup.com/company/videos
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Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Penox