Image: SUNLIGHT. A €105 million (US$127.6 million) push to develop low-cost, environmentally-friendly lithium-ion battery technology by Sunlight, a designer and manufacturer of batteries headquartered in Greece, will receive €49.9 million in grant funding.
Specialist battery company Sunlight, a member of Olympia Group, will significantly increase manufacturing capacity and create new jobs at its state-of-the-art plant in Xanthi, northern Greece, following a €25 million, 10-year loan from the European Investment Bank (EIB) which was confirmed earlier in Athens today.
With more than 12 years of experience in lithium and a top R&D team, Sunlight entered the lithium market with Li.ON FORCE, the first line of “smart” lithium batteries for electrical Industrial Vehicles (eIVs).
A company spokesperson told Energy-Storage.news today that Sunlight wants the lithium battery technologies it develops to play a key role in areas including automated guided vehicles, electric buses and shipping, as well as in “smart storage systems for renewable energy sources”.
Of its EUR-560-million business plan, the company will invest EUR 450 million to boost its sales network and production capacity up to 6.3 million battery cells by the end of 2023. This effort includes investment in equipment and mergers and acquisitions.
In its fourth decade of dynamic growth, Sunlight is ranked among the world’s top manufacturers of industrial technology batteries.