Avesta Holding Announces Plans for a new 20 GWh LFP Battery Cell Gigafactory

Company Engages in Discussions with Two Countries to Determine Optimal Location

Avesta Holding, a leader in innovative battery and energy solutions, is thrilled to announce its plans to establish a new gigafactory dedicated to the production of Advanced Lithium Iron Phosphate (LFP) battery cells. This state-of-the-art facility will start with an impressive capacity of 5 gigawatt hours (GWh) annually, exclusively supporting Avesta Battery & Energy Engineering (ABEE), BE-Volt, and other strategic partners. As the facility scales, it is projected to reach a capacity of 20 GWh, positioning ABEE at the forefront of the European battery revolution.

The new gigafactory is a strategic move by Avesta Holding to meet the growing demand for reliable and sustainable energy storage solutions in both automotive applications and renewable energy. With LFP batteries gaining popularity for their safety, long cycle life, and cost-effectiveness, this new gigafactory will play a crucial role in advancing clean energy technologies. Our advanced LFP technology is fully developed by ABEE, ensuring a robust European supply chain with lower CO₂ footprint.

“In light of recent industry developments, we are pleased that our strategic approach has proven to be the right one, “said Noshin Omar, Founder of Avesta Holding. ” “The new gigafactory represents our commitment to innovation and sustainability in the European battery industry. We are currently in discussions with two European countries to determine the most strategic location for this significant investment. This project is complementary with BulgaPower and with this gigafactory we will fully cover the cycle of the cell pack until recycling”, said Rahul Gopalakrishnan, CEO of Avesta Battery & Energy Engineering.

The establishment of the gigafactory is expected to create numerous job opportunities and contribute significantly to the local economies. It also aligns with global efforts to transition towards cleaner energy sources and reduce carbon footprints.

ABEE’s decision on the gigafactory location will be influenced by factors such as infrastructure, workforce availability, and governmental support. The company aims to finalize the location in the coming months and commence construction shortly thereafter. While ABEE has decided to end its collaboration on the project in Romania, we continue to explore other promising locations to support our strategic growth.

Avesta Holding  remains dedicated to pioneering advancements in battery technology and supporting the global shift towards sustainable energy solutions. Stay tuned for further updates on the gigafactory project and Avesta Holding’s continued efforts to drive innovation in the energy sector.

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