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Belgrade
23/06/2024
Mining News

InoBat Secures Major Investment from Slovak Investment Holding

The entire investment will be used in Slovakia, supporting research, development, and innovation in batteries and expansion plans in Voderady.

The Slovak company InoBat, specializing in research, development, and production of batteries for electric vehicles, has gained another notable investor—Slovak Investment Holding (SIH). SIH’s long-term goal is to support public and private investments in strategic sectors in Slovakia. In the case of InoBat, SIH has decided on a significant strategic investment in the form of a capital increase. SIH has joined the investors in the ongoing Series C investment round, intending to support sufficient fundraising for InoBat ‘s vision.

Supported by

InoBat CEO Marián Boček explained that the negotiation process between SIH and InoBat began last summer, with the investment decision finalized in December.

“We are very pleased that SIH has placed such great trust in us. For the Slovak and European battery market, this represents another significant milestone, opening doors to new possibilities in the future. This strategic investment will help us achieve our goals, expand market reach, increase capacities, and capitalize on new opportunities presented by the market.”

“We are investing in the future of Slovakia and InoBat provides us with a unique opportunity to support innovative technologies and move Slovakia closer to a central role in the European electric vehicle sector. We also expect socio-economic benefits, especially in terms of know-how and employment. We believe that the development and progress in the field of electromobility will make a significant contribution to a sustainable future, helping us to accelerate the path to carbon neutrality and thus contributing to the vision of reversing climate change,” Slovak Investment Holding declared.

The investment holds significant strategic importance for both companies, serving as a necessary catalyst for InoBat’s expansion plans. It will advance the finalization of the existing research and development center and pilot production line for batteries in Voderady (Volta I), with battery production scheduled for the first quarter of this year. The investment will also expedite the construction of the second project phase (Volta II), located adjacent to the existing InoBat facility in Voderady.

InoBat is one of the few projects to have obtained the European Battery Innovation Important Project of Common European Interest (IPCEI) status from the European Commission. This important step confirms the project’s credibility at the European level and strengthens its position in the field of innovation and sustainable development.

 

Source: InoBat

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