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21/04/2024
Mining News

ACC Secures Billions in Funding for Three Gigafactories

Battery manufacturer ACC has completed a capital raise of 4.4 billion euros. The money will be used to build three gigafactories in France, Germany, and Italy, as well as to fund research. The financing is being provided by a consortium of commercial banks and government support from France and Germany. Italy has not yet made a financial contribution.

Total capacity of 120 gigawatt-hours

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The Billy-Berclau plant in France has already been in operation since 2003. It has an initial annual production capacity of 13 gigawatt-hours and is planned to be gradually expanded to 40 gigawatt-hours. The German plant in Kaiserslautern is scheduled to start up in 2025 with a similar initial capacity of 13.4 gigawatt-hours, increasing to 40 gigawatt-hours by 2030. Together with the Italian plant in Termoli of the same size, the total capacity of the three plants is expected to eventually reach 120 gigawatt-hours per year.

 

Source: Battery News

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