Invista to invest 1 billion pln in battery gigafactory

The listed company Invista has announced that it has started cooperation with the German-Ukrainian consortium UBESS, which wants to build a battery and energy storage plant in Poland. The investment is to cost over PLN 1 billion.
UBESS produces energy storage based on LTO technology, chargers for electric cars and energy management systems in Ukraine. Under the agreement, the Polish company Invista will become the sole distributor of devices built in LTO technology.

At the same time, the consortium announced the construction of a factory in Poland for over PLN 1 billion. The plant is to be built within a year and it will first assemble and then produce LTO warehouses and batteries with a capacity of 1 GW per year.

“The use of innovative lithium-titanium (LTO) batteries is becoming more and more needed nowadays and opens up a new investment niche for investors. It is enough to look at the dynamically developing market of electromobility and photovoltaics, where UBESS solutions are used. The prospects are huge: sustainable market development, investments in the latest technology” – commented Leon Gourari, head of UBESS responsible for the company’s foreign expansion.

According to Invista representatives, the recipients of UBESS products will be entities that use large amounts of energy, including state-owned companies (PKP), gas stations, municipal networks of electromobile chargers, commercial networks and the military.

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