South African energy storage provider Metair Investments has announced that its Romanian units, Rombat and Prime Batteries, have completed the installation of a lithium-ion battery manufacturing and assembly plant in the country's capital, Bucharest.
The €13.6-million greenfield development project, which began in 2017, has a total production capacity of between 600,000 and 1 million cells annually. Production is expected to begin in the second quarter of 2020.
In February 2018, through its wholly-owned subsidiary, Rombat, Metair acquired 35% of Romanian firm Prime in a deal worth €1-million, so as to accelerate the production of li-ion batteries on the European market.
Prime Romania
Metair is a publicly-owned company listed on the Johannesburg Stock Exchange. The group manages an international portfolio of companies that manufacture, distribute and retail products for energy storage and automotive components.
In related news, it was announced this week that the European Commission, now under the leadership of President Ursula von der Leyen, has approved a Project of Common Interest to support research and development of batteries as part of its drive towards electrification. Belgium, Finland, France, Germany, Italy, Poland and Sweden will together provide around €3.2-billion towards the project, which is expected to unlock a further €5-billion in private investment.
The project will involve 17 direct participants, mostly industrial actors, including small and medium-sized enterprises, some of which operate in more than one EU member state, the Commission said. The completion of the overall project is planned for 2031.
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