Consumer cell maker Varta has received up to €300 million ($341 million) funding to help transfer its technology to larger format batteries for use in energy storage and mobility applications.
Funding from IPCEI (Important Project of Common European Interest) will help the German battery firm develop its latest generation of lithium-ion cells.
These new larger battery formats are to be optimised on a pilot line and transferred to mass production.
The Federal Ministry of Economics (BMWi) and the German states of Bavaria and Baden-Württemberg are supporting the battery industry within the framework of an IPCEI.
The federal and state governments are providing Varta cash for the project until the end of 2024.
Varta is the first company in Germany with a funding certificate for the production of battery cells.
Peter Altmaier, Federal Minister of Economic Affairs and Energy, said: “The establishment of innovative and sustainable battery cell production in Germany is a high priority for us.
“It is necessary to remain competitive, create new jobs and secure prosperity in line with the transformation of energy and transport. Today we are taking a big step towards our own large-scale production of battery cells for automotive and industrial applications.”
Image: Peter Altmaier (left) hands over the IPCEI funding to Herbert Schein, CEO of Varta. Photo: Varta
