The Romanian company Prime Batteries Technology strengthens its presence on the battery market for electric mobility with the support of the EIT InnoEnergy investment fund

By RBJ
Prime Batteries Technology, a Romanian company founded in 2016, specialized in the design and production of lithium-ion batteries, announced that EIT InnoEnergy is part of its shareholding, which will help it to quadruple its production capacity between 2024 and 2026 .
Vicentiu Ciobanu, CEO at Prime Batteries Technology, says in a press release that the goal is to increase the annual production capacity from 2 GWh in 2024 to 8 GWh in 2026. The capacity is currently much lower.
The new shareholder is EIT InnoEnergy, an investment fund that was created a decade ago by the European Institute of Innovation and Technology. In June 2022, EIT InnoEnergy signed an MoM with two Romanian ministries (economy and education) for the development of the battery sector here and for the creation of a strategy in the field.
EIT InnoEnergy is a major investor in companies such as Northvolt that are developing battery manufacturing capabilities in Europe, a continent that lags far behind Asia in this regard.
In 2021, Prime Batteries Technology had a turnover of 38.3 million lei and a net profit of 5.7 million lei, and the average number of employees was 35, according to data from the Ministry of Finance. The turnover had been below 8 million lei in 2020, and the net profit was below 500,000 lei.
The company was founded by Adrian Polec and Florentin Ciobanu and produces batteries and various storage systems for cars, buses, port equipment and boats.
The company operates a production capacity located near Bucharest where it produces storage systems for the production of green electricity from renewable sources (photovoltaic and wind) and for electric mobility (electric vehicles – buses, port equipment, recreational vehicles, agricultural machines), as and for marine vessels.
Prime Batteries Technology was established in 2016, and in the six years of activity, the turnover has seen spectacular increases from year to year (in 2021 it increased 7 times compared to 2020, and in June 2022, the company has already exceeded the turnover achieved in 2021) as a result of the increase in the portfolio of orders from customers both in Romania and in Europe, against the background of the increase in demand for electricity storage systems, especially for green renewable energies (photovoltaic and wind).
Prime Batteries Technology is owned approximately 70% by Adrian Polec (37 years old), approximately 20% by Florentin Vincentiu Ciobanu and 10% by the South African group Metair, which also controls Rombat – the largest producer of lead batteries from Romania.