Photo: IPS
International Power Supply (IPS) opened its Factory X1, with a capacity of 3 GWh per year. It is the first gigafactory in Bulgaria for battery energy storage systems (BESS).
Recognized by the European Commission as a strategic project for a net zero industry, Factory X1 officially began production. International Power Supply (IPS) held the inauguration ceremony at the site in Chelopechene in the Kremikovtsi industrial district, part of the territory of Bulgaria’s capital Sofia.
The first battery energy storage gigafactory in the country is part of the Hemus high-tech industrial park. The facility will manufacture X-BESS modular systems of 8.2 MWh. Its annual capacity is 3 GW but IPS plans to lift it to 5 GW by the middle of next year.
Everything made in Europe except for battery cells
The company’s portfolio includes a proprietary battery management system (BMS). Actually, more than 70% of the supply chain is based in Europe, according to IPS. It includes distributed liquid cooling systems, mechanical structures, housings, electronics, control units, and inverters, the announcement reads.
“Made in Europe – the mission is possible. European know-how, European technology and IP, European sovereign BESS Gigafactory recognized as strategic manufacturing project from the European Commission. Today, it all starts – right here in Bulgaria,” said Chief Executive Officer Alexander Rangelov.
The lithium ion systems feature Chinese EVE and Cornex battery cells.
Power Technology Investment Group holds almost two thirds of IPS. It is controlled by the family of the founder Stoil Rangelov Trifonov. SIL Energy Invest is a minority partner.
Another factory could revive one of Bulgaria’s coal regions
Another manufacturing project is in the pipeline, worth EUR 160 million. It is for 10 GWh. IPS is seeking financial support from the European Union for the endeavor.
Locations in the vicinity of coal plants in the Maritsa East complex and Bobov Dol are under consideration, Economic.bg reported.
CEO Alexander Rangelov revealed that MM Energy decided to build a 10 GWh manufacturing facility in Poland using IPS’s technology.
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