The Minister of Innovation and Growth Alexander Pulev will participate in the ceremony organized by the Bulgarian Investment Agency (BIA) and the European Battery Alliance (European Battery Alliance – EBA) on Monday in the capital. At the event, BIA and EBA will sign a declaration for Bulgaria's accession to the Alliance.
The European Battery Alliance is an institution that was created by the European Commission to bring key manufacturing back to Europe. The organization currently brings together over 800 industrial partners, technology companies, financial institutions and development centers from mining to recycling with the common goal of building a sustainable and competitive European battery industry.
By joining, our country will become part of an industry expected to generate annual revenues worth 250 billion euros from 2025 onwards, which is related to decarbonisation technologies - energy storage and electromobility systems, where 100% of production goes for export.
By joining the Alliance, Bulgaria will be able to attract foreign direct investment from producers and thus create a prerequisite for opening new jobs and economic growth.
EBA is committed to promoting the use of renewable energy sources in the production of basic industries, electrification of vehicles, building energy storage systems, etc., which require batteries. Energy storage technologies are at the heart of one of the biggest industrial transformations in the world, in addition to meeting the goals of improving the climate, but also for the development of the automotive industry in Europe.
Our country will also get access to funding aimed at supporting research and innovation in the field of batteries in Europe, for which a fund of 3.2 billion euros has been created. After our accession to the EBA, this will open opportunities for Bulgarian companies and scientific institutions to receive funds from the fund. This will be key in helping the development of innovation and knowledge exchange. Bulgaria will have the opportunity to become a center for training and retraining of experts in the field of energy storage technologies.