EnerSys Receives Refund of $137 Million Related to IRC Section 45X Tax Credits

READING, Pa.--(BUSINESS WIRE)--EnerSys (NYSE: ENS), a global leader in stored energy solutions for industrial applications, announced today that the Company received its fiscal 2024 U.S. tax return refund of $137 million, plus accrued interest, on August 25, 2025. The tax refund is associated with sales of batteries EnerSys produced in the U.S. which qualify for Internal Revenue Code Section 45X Advanced Manufacturing Production Credits.

“We are proud of our domestic production, and we’re pleased to receive this tax refund in our second fiscal quarter, as anticipated,” said Andrea Funk, EnerSys Executive Vice President and Chief Financial Officer.

“Earning these credits underscores our commitment to strengthening a resilient U.S. manufacturing and supply base, and delivering high-performance energy solutions our customers rely on,” said Shawn O’Connell, President and Chief Executive Officer of EnerSys.

About EnerSys

EnerSys is a global leader in stored energy solutions for industrial applications and designs, manufactures, and distributes energy systems solutions and motive power batteries, specialty batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosure solutions to customers worldwide. The company goes to market through four lines of business: Energy Systems, Motive Power, Specialty and New Ventures. Energy Systems, which combine power conversion, power distribution, energy storage, and enclosures, are used in the telecommunication, broadband and utility industries, uninterruptible power supplies, and numerous applications requiring stored energy solutions. Motive power batteries and chargers are utilized in electric forklift trucks and other industrial electric powered vehicles. Specialty batteries are used in aerospace and defense applications, portable power solutions for soldiers in the field, large over-the-road trucks, premium automotive, medical and security systems applications. New Ventures provides energy storage and management systems for various applications including demand charge reduction, utility back-up power, and dynamic fast charging for electric vehicles. EnerSys also provides aftermarket and customer support services to its customers in over 100 countries through its sales and manufacturing locations around the world. To learn more about EnerSys please visit https://www.enersys.com/en/.