The loan agreement has a duration of 7 years, and its purpose is to finance the company’s five-year (2021-2026) growth business plan (€125m) and secure the financing of the company’s permanent working capital needs (€25m).
This new funding shall further support Sunlight’s business and investment goals to increase its production capacity in lead-acid batteries, lithium-ion batteries, and energy storage systems. This will consist in the upgrade of its facilities in Greece (Xanthi, Komotini and Kilkis), Italy (Verona and Vignola) as well as USA (North Carolina).
The funding will also support the development of innovative products, with a focus on lithium technology.
Sunlight Group aims to become a global leader in the energy storage sector, in which it already has a significant market share. With both organic and inorganic growth, Sunlight plans to expand its sales, distribution and services network, and strengthen its supply chain.
