Equity investor T2Y Capital announced last week that it will become the second-largest shareholder in Romanian lithium energy storage firm Prime Batteries Energy Holding.
The newly established T2Y Capital plans to support the Bucharest-based company’s global growth ambitions by providing expansion capital and strategic guidance.
While financial details were not disclosed, T2Y noted that its investments typically range from tens to hundreds of millions of euros, both through its fund and co-investments.
As part of the deal, T2Y will join Prime’s board of directors. The partnership aims to scale Prime’s production capacity from the current 300 MWh to over 8 GWh by 2030.
Founded in 2016, Prime develops advanced battery systems for applications across mobility, industry, renewable energy, and the power grid.
The company manages the full production chain—from battery cells to battery management systems—and delivers turnkey energy storage solutions tailored to various sectors.
Vicentiu Ciobanu, Prime’s CEO, said: “We can now further scale up our production capacity. T2Y Capital’s support reinforces Prime’s position as a leading lithium ion technology provider in Europe, bringing innovative solutions to the market.”
Benedikt Friedrich, T2Y’s Managing Director of Investments, described Prime as a “hidden champion” within the energy industry.
Source: batteriesinternational.com