CMBlu Energy: Establishment of a production and marketing plant for innovative organic solid flow batteries in Greece

In the first step for the establishment and marketing of innovative organic solid flow batteries in Greece, CMBlu Energy progresses with the establishment of a subsidiary in our country. Several new highly qualified jobs, 70m euros, will be created by the planned investment of the German company and will contribute decisively to the emergence of Greece as a pioneer country in the field of renewable energy production and storage. The subsidiary company in Greece was established under the name CMBlu Energy AE, while the production unit is expected to operate in 2025. Organic SolidFlow technology combines the advantages of solid state batteries and flow batteries: They have similar energy density and performance with solid state batteries, but can be individually adapted in terms of performance and capacity. In addition, they are non-flammable, not exploding, are almost completely recyclable and the required raw materials are available in almost unlimited quantities, which makes them the ideal means for large static energy storage systems. The CEO of CMBlu in Greece, George Paterakis, said ahead of its operation: “ The dynamics with which the energy transition to Greece is evolving, at an economic, legal and business level, shape the ideal conditions for investment in the industry. In this context, this is an important investment that will upgrade our country’s potential and technological potential in the storage of energy from renewable sources and, at the same time, facilitate its conversion into a European innovation hub, as the produced solid state batteries will not only address the domestic market but also those of neighbouring countries.” “The Greek Government’s clear commitment to the National Energy and Climate Plan (ESEC) to actively support the establishment of innovative green technology companies and thus make the country a European innovation centre for renewable energy sources and energy storage prompted CMBlu’s administration to establish a subsidiary in the country,” stressed the new CEO of CMBlu-Energy Constantin Eis, who will take over the company’s management in April. For his part, Dr Peter Geigle, founder of CMBlu and future chairman of the Supervisory Board, completed: “In recent years, Greece has come out of a serious crisis and evolved into one of Europe’s most dynamic and innovative economies, especially in the energy and clean technology sectors. This event and extremely positive and constructive discussions with the Greek government impressed us particularly and convinced us that Greece can be a very good location for the production of our own solid flow battery.” Domestic production will bring a significant benefit to the local economy and at the same time a comparative advantage over international supply chains, while it is expected to contribute substantially to turning Greece into an innovation hub in energy, throughout Southeast Europe.