January 4, 2024: Monbat Group CEO Viktor Spiriev has revealed the battery manufacturer is actively seeking an investment partner to expand its business.

Spiriev (pictured) said in a December 19 interview posted on Monbat’s website that finding a strategic investment partner “will be crucial for scaling up our current operations”, but said it was too early to give details.

And he teased that a separate announcement about Monbat’s involvement in a new lead battery project was imminent.

He said the Bulgaria-based firm enjoys close international cooperation with companies through the Consortium for Battery Innovation and he would soon “announce a successful project”.

Meanwhile, Spiriev said the company’s next five years will see it intensify development of a new range of lead and lithium BESS units Monbat intends to launch on the market for homes, micro- and small businesses.

Spiriev’s office did not respond to a request from Batteries International for an update on progress with potential international partners.

In June 2022, Monbat and US-based Advanced Battery Concepts announced plans to develop a commercial bipolar battery for mass production in an investment deal worth around €16 million ($17 million).

The firms said they aimed to design a battery based on ABC’s GreenSeal technology for production in Bulgaria.