Greek lead-acid battery maker Sunlight is to expand manufacturing and new product development boosted by a €12.5 million (US$14.2m) financial shot in the arm from the European Investment Bank (EIB).
Sunlight, part of the Olympia Group, said it will “significantly increase manufacturing capacity” at its plant in Xanthi, northern Greece thanks to the loan— the first support for industrial investment in Greece under a new EIB lending initiative backed by the European Fund for Strategic Investments.
Australian flow battery firm Redflow Limited has started installing equipment for a battery production line at its new factory in Thailand— putting the firm on track to launch initial operations in the country by the end of the year.
The announcement follows Redflow’s formation of a new entity— Redflow (Thailand) Limited— to create a base in the country to serve its Southeast Asia business.
General Electric Co said it will invest $70 million in its Schenectady battery plant in New York to double production and create 100 jobs there. This will take the plant’s workforce 450 at full capacity.
The factory manufactures GE's Durathon batteries, which are half the size of conventional lead-acid batteries but last ten times longer.