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JV aims to build Italian lithium-ion gigafactory for motive and stationary application markets

Fri, 06/18/2021 - 12:31 -- Paul Crompton
JV aims to build Italian lithium-ion gigafactory for motive and stationary application markets

A joint venture (JV) aims to produce lithium-ion batteries in Italy with the end goal of reaching a production capacity of more than 2GWh within five years.

Electric propulsion maker Fincantieri SI and energy storage system developer Faist Electronics have formed the JV Power4Future company to build a manufacturing facility, followed by the design, assembly, marketing and after-sales services for modules and battery packs.

Plans also include control devices such as battery management systems (BMS) and ancillary systems (such as fire protection and air conditioning for complete battery stationary systems).

Power4Future will target a number of markets, including: automotive (with particular reference to commercial vehicles), telecommunication and industrial (i.e. material handling machines).

The JV will also target marine and land-based energy storage applications where Faist Electronics and Fincantieri SI are already established.

Gianfranco Natali, president and founder of Faist Group, said: “In a green energy setting, lithium-ion batteries and energy storage systems will be the new fuel tank for the maritime and land mobility of the future.”

Giuseppe Bono, CEO of Fincantieri, said: “Future environmental protection regulations will drive ship owners to adopt new alternative solutions to those currently based on internal combustion engines, in order to produce and use energy. 

“Faced with the need for greater storage capacity, lithium-ion batteries today are the only solution that is both technically and economically sustainable for full electric vessels, which currently makes them one of the most important assets not only for the naval industry, but also for all the other sectors where we will be able to operate with this new company.”

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