ProLogium, a global leading manufacturer in next-generation solid-state batteries, has appointed Accuracy, the global independent financial and strategic consulting firm, to advise on the location of its first major Gigawatt-hour (GWh) battery factory in Europe and to work with its International Development team.
Investment in the new factory will total US$8bn over the next decade. The factory is expected to be one of Europe’s biggest gigafactories, with a three-phase construction and ultimately an annual capacity target of 120 GWh when the third phase is completed.
ProLogium is seeking its first overseas site for production of next-generation solid-state batteries in Europe or in USA in light of the exponential growth in demand for electric vehicles over the next decade. In Europe, the firm has initiated a feasibility study for potential sites including locations in France, Germany, the Netherlands, Poland and the United Kingdom (alphabetically).
Solid-state batteries are among the most promising and disruptive battery technologies, offering advantages in terms of safety, energy density, fast-charging capability, recyclability, weight optimisation and costs. Many European markets are making a strong commitment to the battery industry, with the aim of positioning themselves as gigafactory hubs.
“For most Asian companies actively going abroad, one of the keys to success is a solid foundation rooted in strategic planning.” Mr. Vincent Yang, Chief Executive Officer and Chairman of ProLogium Technology said. “Site selection requires not only the right technology and solutions for that market, but also in-depth knowledge of local market demands and trends. That’s why we’ve chosen Accuracy as our advisor for one of our most important milestones.”
Zaheer Minhas, Partner at Accuracy leading the Infrastructure Advisory business in Asia and who is advising ProLogium, says: “It is no exaggeration to say that ProLogium’s European production site will be transformative for the chosen region. Competition to secure the site is already fierce. That means the region ProLogium chooses will benefit from the creation of high quality, environmentally-friendly jobs for many years to come.”
Gilles Normand, International Development EVP at ProLogium, who has already been touring all the potential sites in the shortlisted countries in Europe (France, Germany, Netherlands, Poland and UK) declares “I have been impressed by the pre-selection process developed by Accuracy. During my front-line visit to all potential sites, I discovered very talented people and highly motivated ones. I was pleased to see the enthusiasm and the understanding about our technology and future industrialization plans. For sure, choosing finally the selected site is going to be a hard process”.
Frédéric Recordon, Partner at Accuracy who together with Zaheer is also advising ProLogium, adds: “The business is looking forward to making its final decision by the second quarter of 2023 at the earliest and breaking ground on the new facility after carrying out the proper investigation through due diligence.”