Bruges-based ACC (Automotive Cells Company), a high-tech company operating in the world of battery technology for electric vehicles, announced on Monday, February 12, that it has secured €4.4B debt raising.
The company will use the funds to construct three gigafactories for lithium-ion battery cell production in France, Germany, and Italy, as well as, for R&D.
The debt package will be used to finance these projects and is fully endorsed by a consortium of commercial banks, including BNP Paribas, Deutsche Bank, ING, Intesa Sanpaolo, and supported by Bpifrance, Euler Hermes, and SACE.
In December 2023, the company started production for Stellantis at its Billy-Berclau Douvrin Gigafactory (France) on schedule.
Stellantis, Mercedes-Benz, and Saft, the three shareholders of the company, show their engagement by working together with ACC and participating in a capital increase to ensure its success.
By the end of March 2024 and with the next capital injection, Stellantis will own 45 per cent of ACC’s shares, Mercedes-Benz 30 per cent, and Saft 25 per cent.
Stellantis and Mercedes-Benz agreed to increase their equity stakes in the French company by modifying the capital shareholding progressively.
Yann Vincent, Chief Executive Officer of ACC, says, “The transition to the electrification of vehicles is still on the way. To meet this immense challenge, our customers must be able to rely on robust and reliable European players like ACC, capable of delivering high volumes of competitive batteries with a low CO2 footprint. With this world-class financial community supporting us, we see clear evidence of the confidence that is placed in the ACC project.”
“Beyond this operation, we will determine our needs as and when we conclude additional contracts. We are resolutely looking to the future, to achieve our objective of growing our production capacities,” adds Vincent.
Automotive Cells Company (ACC): Revolutionising the world of battery technology
Backed by Saft-TotalEnergies, Stellantis (PSA-Opel), and Mercedes, Automotive Cells Company (ACC) is set to revolutionise the automotive industry by innovating in battery technology.
Founded in 2020, the company aims to produce sustainable, affordable, high-capacity, longer-life batteries as a cleaner alternative to current energy sources.
The French company has set up an R&D centre in Bruges and an Industrial Excellence Center in Nersac to focus on the development of technologies for the electrification of the automotive industry.
Since launching, the company has grown to more than 1,500 people and now employs over 40 nationalities at its facilities in France, Germany, and Italy.
Séverine Mateo, head of the Low Carbon Transition Group, says, “ACC and BNP Paribas share the same ambition, which is to accelerate the transition to a different and more sustainable mobility. During our engagement alongside ACC, we have been impressed by the expertise and commitment of their teams to deliver on their ambition and are proud to be contributing to their success by advising them on their financing journey”.
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