| Project Detail |
The project concerns the development of a pilot line to produce prototype Li-Ion cells in a greenfield building adjacent to the current Xanthi manufacturing plant. The pilot line and RDI facilities are located in Xanthi, in a cohesion (less developed) region in the North-Eastern part of Greece, with a nominal manufacturing capacity of up to 200 MWh. This pilot plant will not produce any commercial-grade cells. The investment covers the period 2022-2025. This is part of a broader research, development and innovation (RDI) project, aimed at developing and producing its own complete Li-Ion battery systems including the cells.
Additionality and Impact
The EIB project concerns the development of a pilot line to produce prototype Li-Ion cells in a greenfield building adjacent to the promoters current Xanthi manufacturing plant. The project covers the period 2022 up to 2025 and the pilot line and R&D facilities are located in Xanthi, in a cohesion (less developed) region in the North-Eastern part of Greece. This pilot plant will not produce any commercial-grade cells.
Following the successful completion of this pilot project, the promoter envisages to establish a complete production facility to manufacture lithium. However, this is not part of the EIB financing scope, the plan is still uncertain and not included in the current promoters business plan.
The project will lead to the development and deployment of innovative process technologies with substantial environmental benefits.
The financing of this project supports RDI activities, which generate significant positive knowledge, technology and environmental externalities, through the creation of innovative processes, products or services and through skills development and upgrading.
This project supports the strengthening of the EUs economic, social and territorial cohesion.
Finally, the EIB financing will allow the promoter to further diversify its funding sources and will complement the approved IPCEI funding. Also, it will provide the promoter with more attractive terms than market alternatives (such as longer tenor and grace period).
Objectives
The aim is to finance the promoters RDI activities for Lithium-ion cells and of capex for pilot line Lithium-ion battery cells manufacturing. Following the successful completion of this pilot project, the promoter envisages to establish a complete production facility to manufacture lithium cells for off road mobility, industrial applications, and energy storage. However, this is not part of the EIB financing scope and the plan is still uncertain and not included in the current business plan.
Sector(s)
Industry - Manufacturing
Proposed EIB finance (Approximate amount)
EUR 25 million
Total cost (Approximate amount)
EUR 70 million |
