Photo: Ministry of Economy and Industry
Bulgaria-based International Power Supply (IPS) is opening a factory for battery energy storage systems, using proprietary technology. The Exeron X-BESS is one of only six strategic projects in the European Union with a designation under the Net Zero Industry Act.
Minister of Economy and Industry of Bulgaria Petar Dilov met with Chief Executive Officer of International Power Supply (IPS) Alexander Rangelov, as the company’s investment in the production of BESS entered the EU’s public registry of strategic projects under NZIA. It is one of only six endeavors that made it to the list so far.
The Exeron X-BESS factory will put Bulgaria on the world map for the production of battery energy storage technologies, the ministry said. It is fully aligned with the NZIA goals for secure and sustainable supply of net zero emission technologies and the expansion of production capacities and supply chains, it added.
Exeron X-BESS to become key factor in EU’s clean technology chain
The government is promoting energy efficiency and the security of supply for industrial production in Bulgaria, especially in the segment of zero emission technologies, Dilov stresed. “The project is an important step towards including Bulgaria among European producers of environmental technologies and the implementation of high-tech solutions to mitigate climate change,” the minister stated.
He expressed the belief that the project would become a key factor in the clean technology chain. It is a step forward for Bulgaria’s participation in the European and global industry that is transforming the energy sector, Dilov pointed out.
The X-BESS line includes a battery management system developed by IPS
IPS has patented the entire Exeron X-BESS technology. Production should begin in the autumn. The facility is in the Hemus high-tech industrial park in Kremikovtzi (Kremikovtsi) near Sofia.
The project entails the creation of 65 jobs by the end of the year, of which a quarter would be in development and engineering. Two thirds of the employees would be technical specialists.
The majority owner of IPS, with 65.5%, is Power Technology Investment Group. It is controlled by the family of the founder Stoil Rangelov Trifonov. SIL Energy Invest has 31.5%. The Capital Investments Fund (CIFund) of the Bulgarian Development Bank holds the remaining 3%.
The company mainly uses European parts and the lithium-iron-phosphate (LFP) battery cells are from China. IPS has a proprietary battery management system (BMS) for the X-BESS line.
NZIA is fast-tracking permits for strategic projects
The NZIA designation secures a priority status at the national level for all administrative processes, faster permitting including environmental approvals, and advice on financing.
Of the six projects in the list, three are in Germany. Carbon2Business and MoReTec are for the decarbonization of a cement plant and chemicals production, respectively, while the one branded Resilience develops renewable energy technologies.
The remaining two are located in Sweden. NKT HV Cables AB is an endeavor for new electricity grid technologies including electric charging for transportation and grid digitalization solutions. The Talga Battery ANODE Refinery ONE is the only other project in the battery and energy storage segment.
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