The US American battery specialist Farasis Energy has managed to collect more than one billion dollars in a new financing round. The money will be used to fund the expansion plans for the company, which include the set up of a new factory in Europe, to join the recently completed factory in China.
The manufacturer of lithium-ion batteries, modules and larger battery systems has set the goal to create a global manufacturing infrastructure for batteries. The company, which was founded in 2002, is currently operating a research centre in Hayward as well as two factories in China. The factory in Ganzhou was joined by another, similar facility in Zhenjiang, which has a plan is to extend annual capacity of 20 GWh.
In the next step of the expansion plan, Farasis will be setting up a factory in Europe. For this purpose, they have already set up a coordination office in Stuttgart, Germany.