German high-performance battery producer CMBlu Energy’s Greek subsidiary CMBlu Greece is expected to make a final investment decision for a new organic battery production plant near Thessaloniki this coming summer, Constantin Eis, CEO of CMBlu, has announced to media.

He was accompanied by the chief executive of CMBlu Greece, Giorgos Paterakis, and the founder of the parent company, Dr. Peter Geigle.

Planning concerning the production unit’s development is moving ahead smoothly, while the company’s management is already engaged in discussions for financing and a local industrial partner, the officials informed.

CMBlu Greece has begun talks with the energy ministry, including a session yesterday, as part of its effort to secure funding support, which the company hopes may cover 60 percent of the total investment, estimated at 70 million euros.

The company plans to supply the prospective plant’s organic batteries in the Greek and Balkan markets, which explains why it is looking to develop a production plant in northern Greece, at a location near Thessaloniki.

CMBlu Greece aims to launch the new plant in 2025. The main objective of the project will be to create batteries for large-scale electricity storage.

CMBlu Energy, headquartered in Alzenau, east of Frankfurt, was established in 2011. It has achieved growing production levels and holds contracts with major utilities.

The company develops and produces high-performance batteries, while its systems are fully recyclable and can store and provide power for two to three times longer per cycle than lithium-ion batteries.