Power Electronics, the multinational company specialized in the development of energy transformation has presented Element Valencia, which aims to develop and implement a giant lithium battery factory and an R&D center in the south of Europe that will consolidate Spain as a world energy leader.
David Salvo, Power Electronics’ CEO, has expressed the pride that means for the company to lead the Valencian Battery Alliance, which brings together partners from the private sector with the public sector, “we have been working on it for more than two years with the support of the Valencian Government” he said, explaining that this initiative began to take shape before the pandemic was declared and, therefore, the arrival of European revival policies under the program Next Generation EU.
The Valencian Battery Alliance includes companies, innovation centers, technological institutes, and universities that have a long history of research and production around the energy sector and are already present throughout the value chain. An initiative that has been growing over time and will continue because it’s the only one proposal whose strategy “thinks in the short, medium and long term” and accommodates scientific and technological R&D, said Salvo.
This project includes Element Gigafactory and Element Valencia Research Energy Center, which together with Power Electronics, the Energy Technology Institute (ITE), the University of Valencia’s Molecular Science Institute (ICMOL) and the Polytechnic University of Valencia’s Chemistry Technological Institute (ITQ).
The forecasts for this project aims to be a real catalyst for the economy since the Valencian Battery Alliance can contribute with about 2,500 million euros of annual GDP growth in Valencia and the creation of about 30,000 jobs in the territory.
A unique research center in the world
Power Electronics’ CEO points out the desire to consolidate Spain, through Element Valencia Research Center, as a world energy leader. He also remarks that having such a big business project means securing the future of the automotive industry in Spain, but also responding to new ways of mobility, from rail to ships, through new vehicles such as hyperloop”. This project impacts a new industry where the ecological and sustainable energy transition becomes a reality, through storage, becoming independent from the outside.
“This proposal, adds Salvo, is the most ambitious of all the proposals submitted to date in Europe. It’s not just an industrial initiative driven by one or more companies with the help of public entities, is the project based on the most comprehensive and vertically integrated private and public knowledge generation where universities will have the most advanced research center in the world” he concluded.