German battery maker CMBlu wins EUR-30m grant in Greece

The Greek energy ministry has awarded a grant of EUR 30 million (USD 32.3m) to German battery maker CMBlu Energy, which plans to construct a gigafactory in the country by 2026.

The funding is in line with the Greek government’s objective to integrate innovative battery energy storage systems (BESS) with renewables and cut reliance on imports for key technologies, CMBlu said on Tuesday.

The financing was awarded under a EUR-200-million programme called “Produc-e Green.” The initiative is part of the country’s Recovery and Resilience Plan, funded by the EU, and is aimed at supporting sustainable projects. In particular, the programme backs projects related to the production of electric vehicles (EVs) or their components, the manufacturing of chargers for EVs, batteries or their recycling and the production of photovoltaic panels, components for wind turbines, heat pumps, and electric water boilers.

The planned factory will significantly increase CMBlu’s capacity, the German firm said.

CMBlu Energy, which received a EUR-100-million investment from Austrian construction company Strabag SE in 2023, is focused on the Organic SolidFlow battery technology. The solution is aimed at securing a long-duration energy storage system that uses abundant, easily sourced raw materials, the company said.

(EUR 1 = USD 1.077)

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