The Romanian battery manufacturer should therefore increase its annual battery production capacity to 8 GWh, which would require an investment of EUR800 million euros, according to energy experts’ estimates.
“We have already secured most of the orders for 2023 and 2024. Because of growing demand, we need to increase our production capacity. Our ambition is to increase our annual production to 2 GWh by 2024 and 8 GWh by 2026. We will do this by further developing our smart factory, which, at the same time, allows us to produce batteries at a significantly lower cost,” said Vicentiu Ciobanu, CEO and shareholder at Prime Batteries Technology.
Prime Batteries currently has a lithium-ion battery production capacity in Romania of around 0.2 GWh per year.
Details of the deal have not yet been disclosed, such as what percentage of Prime Batteries EIT InnoEnergy will own and how much it is paying for it.
According to data aggregated by the Confidas platform, Prime Batteries Technology is owned 19.5% by Vicentiu Ciobanu, 70.5% by Adrian Polec and 10% by a Dutch battery company.
Prime Batteries posted around EUR8 million revenue in 2021, as well as almost EUR1 million profit and had 35 employees.
(English version by Loredana Fratila-Cristescu)