BUSINESS

Sunlight’s state-subsidized 105 million-euro investment approved

sunlight-s-state-subsidized-105-million-euro-investment-approved

The Development Ministry has approved an investment of 105.26 million euros in battery producer Sunlight, including the creation of a research and development center in Athens and a pilot line for the production of innovative lithium batteries.

The investment is part of the European Project of Common Interest (PCI) named EuBatIn (European Battery Innovation) and will be subsidized by the state with €49.9 million. This will come from the Public Investments Projects and the remaining €55.36 million from the company’s capital.

The new R&D center will complement the one operating in Xanthi, northern Greece.