April 21, 2023: VARTA stated on April 19 that it plans a big growth of manufacturing and gross sales of power storage programs after its enterprise restructuring proposals got the go-ahead by financing banks.
VARTA’s restructuring program contains making focused investments in development areas, which the battery producer says contains specializing in robust demand for ESS programs from the renewable market. or that power.
As well as, the corporate says it desires to broaden its market share in large-format lithium ion cells.
The corporate introduced final month a capital enhance of round €51 million ($56 million) to spice up funding plans.
Now, as a part of the restructuring of the corporate, the banks have eliminated an extension of the present financing till the top of 2026, VARTA stated.
Markus Hackstein, spokesman for VARTA’s government board, stated: “The conclusion of the capital enhance exhibits that VARTA is on a superb path in the direction of monetary and operational stability.”
