A press conference was held today after the meeting of Prime Minister Acad. Nikolay Denkov with Mr. Noshin Omar, representative of Avesta Battery & Energy Engineering (ABEE). The press conference was on the occasion of the announcement of the large-scale investment intention of the company in Bulgaria, on which the Bulgarian Investment Agency is working hard.
“This meeting is held to present a new and quite large-scale intention from the Belgian company Avesta Battery & Energy Engineering. It is an intention to produce a new generation of solid-phase lithium-ion batteries, which are widely used in the automotive industry and also in other technologies. The total investment plan is up to EUR 1.1 billion. for the next three to five years, depending on how the investment is carried out,” the prime minister explained.
The investment is planned to be implemented in three separate stages. One is a research and development base, which is planned to be built in the city of Plovdiv. The second is a plant for the production of lithium-ion batteries, planned to be in the city of Stara Zagora. The third component is related to the possibility of extracting metals, which will then again be used in the production of batteries, which is planned to be in the city of Burgas. This ‘circular economy’ model is in the context of Europe’s objectives, highlighting resource returns and sustainability, based on the idea of a closed cycle of materials and resources where waste from one activity becomes raw materials for another.
The implementation of the three investment projects will have a significant impact on creating long-term employment, creating technological transfers, cluster effects, as well as supporting the industrial and technological development of the country.
Who are ABEE?
ABEE is an engineering company specializing in the production of batteries and energy technologies for automotive and stationary applications, while developing commercial solutions to optimize a charging station according to its status and end-user requirements, such as charging time, total cost of charging, etc.