ITT invests in groundbreaking WECODUR® technology to minimize fine dust emissions in braking systems

WHITE PLAINS, NY–(BUSINESS WIRE)–11. April 2022 — ITT Inc. (NYSE: ITT) today announced its investment in HPL Technologies (HPL), a Germany-based technology startup leading the rotor coating market with its breakthrough WECODUR® technology. HPL developed WECODUR®, an innovative hard coating technology and associated production machines that enable rotors to last longer, better resist corrosion and reduce particulate matter emissions from braking systems. The investment was made jointly by ITT Ventures Fund and S-UBG, a Germany-based venture fund. ITT and S-UBG now each own 10 percent of HPL.

HPL’s WECODUR® technology, combined with ITT Motion Technologies brake pads specifically designed for hard-coated brake discs, will provide industry-leading and environmentally friendly performance and durability. The investment will help HPL Technologies further accelerate the high-level industrialization of laser coating and grinding machines for brake discs. The technology will make a significant contribution to meeting future emission requirements for high-performance brakes. The investment enables Motion Technologies, a leading supplier of brake pads, to continue to respond to the future market needs of its customers by providing the most efficient and sustainable technology.

“At Motion Technologies, one of our core competencies is to develop the most efficient and environmentally friendly solutions for our customers. The combination of WECODUR® technology on brake discs and our brake pads offers the best performance and durability while reducing particulate matter emissions from braking systems. It also paves the way for further innovations such as lighter braking systems, a crucial feature for electric vehicles. This new technology has the potential to change the game,” said Carlo Ghirardo, President of Motion Technologies.

The WECODUR® coating system and the associated production process offer several competitive advantages:

• Longer durability and lifespan: The unique technology makes brake discs corrosion-resistant, reduces wear and increases their service life. At the same time, the high-performance properties of the rotor-pad combination are retained.
• Environmentally friendly: Laboratory tests on WECODUR®-coated rotors in combination with linings specially developed by ITT show a significant reduction in particulate matter emissions in vehicle brake systems.
• cost effectiveness: The WECODUR® technology and the machining options combine hard coating and grinding operations on the brake discs, resulting in a cost advantage.

ITT Ventures is ITT’s innovation investment fund, launched in 2021. ITT Ventures partners with early-stage technology companies that it believes will accelerate growth opportunities in ITT’s key end markets. The fund primarily seeks strong management teams, innovative products and technologies, and scalable companies to invest in.

About ITT

ITT is a diversified leading manufacturer of highly engineered critical components and custom technology solutions for the transportation, industrial and energy markets. Building on its heritage of innovation, ITT works with its customers to deliver enduring solutions to the key industries that underpin our modern way of life. ITT is headquartered in White Plains, NY with employees in more than 35 countries and sales in approximately 125 countries. Visit www.itt.com for more information.

About ITT Motion Technologies

ITT’s Motion Technologies business designs and manufactures next-generation friction materials, suspensions, shock absorbers, springs and critical safety solutions for the automotive, railroad, defense and industrial markets.

Safe Harbor Declaration

This press release contains “forward-looking statements” which are intended to qualify for safe haven liability under the Private Securities Litigation Reform Act of 1995. In addition, ITT officers and representatives may, from time to time, make projections, goals, assumptions and statements that may constitute “forward-looking statements.” These forward-looking statements are not historical facts and represent only assumptions about future events based on current expectations, estimates, assumptions and projections about our business, future financial results and the industry in which we operate and other legal requirements, and economic developments. These forward-looking statements include, but are not limited to, future strategic plans and other statements describing the Company’s business strategy, outlook, goals, plans, intentions or objectives, and any discussions of future events and future operational or financial performance.

We use words like “anticipate”, “estimate”, “expect”, “project”, “intend”, “plan”, “believe”, “goal”, “future”, “can”, “will”, “could”. ‘, ‘should’, ‘potential’, ‘continue’, ‘guidance’ and other similar expressions to identify such forward-looking statements. Forward-looking statements are uncertain, and many are inherently unpredictable and are beyond ITT’s control and involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from those expressed or implied, or reasonably be inferred from such forward-looking statements.

When we express an expectation or assumption regarding future results or events in any forward-looking statement, such expectation or assumption is based on current plans and expectations of our management, which are expressed in good faith and are believed to be have a reasonable basis. However, there can be no assurance that the expectation or belief will occur or that anticipated results will be achieved or achieved.

Factors that could cause our results to differ materially from those indicated in any forward-looking statements include risks and uncertainties inherent in our business, including but not limited to:

• Effects on our business due to the COVID-19 pandemic, including:

  • variant strains of the virus and the timing, efficacy, and availability of, and people’s susceptibility to, vaccines or other medical remedies;

  • disruptions to our operations and demand for our products, increased costs, supply chain disruptions and other limitations in the availability of materials and other necessary services;

  • government-mandated site closures, employee illness, skills shortages, the impact of potential travel restrictions, on-site restrictions and immunization requirements on our business and workforce; and

  • customer and supplier bankruptcies, impacts on the global economy and financial markets and liquidity problems in accessing capital markets;

• uncertain global economic and capital market conditions, including those resulting from COVID-19, trade disputes between the US and its trading partners, actions by the current US administration, political and social unrest, and the availability and volatility of the prices of steel, oil, copper and other commodities ;

• volatility in commodity prices and our suppliers’ ability to meet quality and delivery requirements;

• failure to effectively manage the distribution of products and services;

• failure to compete successfully and innovate in our markets;

• failure to protect our intellectual property rights or infringement of the intellectual property rights of others;

• the extent to which there are quality issues related to manufacturing processes or finished goods;

• the risk of cybersecurity breaches;

• loss or decrease in sales of our key customers;

• risks related to our operations and sales outside the United States and in emerging markets;

• fluctuations in exchange rates and the impact of such fluctuations on our hedging arrangements;

• fluctuations in demand or levels of capital investments and maintenance expenditures by customers, particularly in the oil and gas, chemical and mining markets, or changes in our customers’ anticipated production schedules, particularly in the commercial aerospace market;

• the risk of material business disruption, particularly at our manufacturing facilities;

• exposure to liabilities from previous divestitures and demergers;

• failure of portfolio management strategies, including cost savings initiatives, to meet expectations;

• risks related to government contracts, including changes in government spending levels and regulatory and contractual requirements applicable to sales to the US government, including the impact of COVID vaccine mandates on our ability to continue to participate in government contracts;

• fluctuations in our effective tax rate, including as a result of potential US tax reform legislation;

• changes in environmental laws or regulations, discovery of previously unknown or widespread contamination, or failure of a potentially responsible party to perform;

• failure to comply with the US Foreign Corrupt Practices Act (or other applicable anti-corruption laws), export controls and trade sanctions, including tariffs;

• risk of product liability claims and litigation; and

• Changes in the law relating to the use and disclosure of personal and other information.

The forward-looking statements contained in this press release speak only as of the date of this release. We undertake no obligation (and expressly disclaim any obligation) to update any forward-looking statement, whether written or oral, or as a result of new information, future events or otherwise.