Prime Batteries Technology, a company founded in 2016 that develops and manufactures lithium-ion batteries in Chernivtsi, has announced the acquisition of a company called EIT InnoEnergy, which will help it quadruple its production capacity between 2024 and 2026.
Vicentiu Ciobanu, CEO of Prime Batteries Technology, says in a press release that the goal is to increase annual production capacity from 2 GWh in 2024 to 8 GWh in 2026. Now the power is much lower.
EIT InnoEnergy, an investment fund created ten years ago by the European Institute of Innovation and Technology, became a new shareholder. In June 2022, EIT InnoEnergy signed a memorandum of understanding with two Romanian ministries (Economy and Education) to develop the battery sector here and to create a strategy in this field.
EIT InnoEnergy is a major investor in companies such as Northvolt, which are developing battery manufacturing capabilities in Europe, a continent that lags far behind Asia in this regard.
According to the Ministry of Finance, in 2021 the turnover of Prime Batteries Technology was 38.3 million lei and the net profit was 5.7 million lei, and the average number of employees was 35 people. In 2020, the turnover was less than 8 million lei, and the net profit was less than 500,000 lei.
The company was founded by Adrian Polec and Florentin Ciobanu and manufactures batteries and various storage systems for cars, buses, port equipment and boats. Metair Group, Rombat’s majority shareholder, owns 10% of the shares.
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