September 2, 2021: Systems Sunlight, the Greek battery manufacturing firm, will spend €50 million ($59.2 million) to expand its lead and lithium manufacturing unit in Xanthi, north-eastern Greece, it announced on September 2.
The company said it would plough €30 million ($35.5 million) into increasing its Xanthi unit’s annual lead-acid motive battery production from 4GWh to 5.3GWh, the largest output of motive lead-acid batteries in the world.
It also plans to invest €20 million ($23.7 million) in its production of lithium batteries, adding 1.7GWh in annual capacity, on top of the €105 million ($124.4 million) it has already spent on the Xanthi plant on R&D and a prototype lithium-ion cell production line.
The company says around 60% of the raw materials needed for the lead batteries will come from its recycling facility.
“This latest €50 million investment brings Sunlight’s total committed capex spend for 2021-2023 to €180 million, with €150 million committed to the expansion of lithium production and €30 million committed to the respective lead one,” it said.
“The additional investment is fully aligned with our strategic objective to play a key role in both lead and lithium battery technologies,” said CEO Lampros Bisalas. “The investment is already under implementation, and we’re excited for the new, state-of-the-art machinery to be installed and expand our capabilities.
“We’re keen to meet both current and future demands in the off-road mobility and RES energy storage, by scaling up capacity and rendering our Xanthi industrial park a true gigafactory.