Alevo to invest $251m in North Carolina plant expansion
Alevo will invest $251m to expand its North Carolina plant in the US to facilitate additional manufacturing operations and worldwide deployment of its advanced energy storage system, GridBank.
The major expansion to be undertaken by the Swiss-based energy storage company at its facility in Concord in Cabarrus County will open more than 200 new jobs in the next five years.
Alevo plans to create a global energy storage business to serve the major energy companies in the world. This, it said will be by setting up battery manufacturing, GridBank deployment and grid data analytics units in North Carolina.
Alevo CEO and director Per Dybwad said: “This latest period of expansion is another significant milestone for Alevo.
“As we continue to ramp up production, this phase of investment will be used to source the best possible engineering and manufacturing talent as we look to fill, test and ship our Alevo GridBanks around the world.”
The Concord plant as per Alevo is its first manufacturing facility in the US for the rechargeable GridBank Lithium-Ion battery storage system. Alevo presently employs 215 people in full-time roles in this location.
The new roles to be created following the plant expansion would be in the engineering, manufacturing, maintenance, supply chain, logistics and other divisions. Alevo has revealed that the average annual salary of the 200 plus new jobs will be $56,327.
North Carolina Governor Cooper. “We’re proud this global company has chosen to manufacture its important energy storage products here in North Carolina, right in the heart of a strong manufacturing region of our state.”
The Swiss energy storage firm will be eligible to reimbursements of up to $2.6m from a Job Development Investment Grant (JDIG) as agreed by North Carolina’s Economic Investment Committee.
Towards January end, Alevo introduced a new compact lithium-ion energy storage system in GB35 as an addition to its compact-GridBank product range.
Image: Alevo’s advanced energy storage system, GridBank. Photo: courtesy of Alevo Group S.A.