Estonia was chosen for Nilar’s expansion plans due to Estonia’s geographical and cultural closeness to Sweden and quick actions taken by the Estonian Investment Agency, according to the Chairman of the Board of Nilar International AB, Michael Obermayer.
„The team at the Estonian Investment Agency introduced us possible locations for the plant across Estonia,“ he said. „We cannot disclose the final location yet but will most probably do it this summer. When the plant will start working at full capacity, it will employ 200 to 300 people.“
According to Estonia’s Minister of Enterpreneurship and IT, Andres Sutt, Estonia’s focus when facilitating foreign investments to the country, has to be rise in productivity and competitiveness. „Battery technologies are one of the priorities in value chains of the European Union that the Investment Agency has been successfully working on. If our value propositions are desirable for the new generation of industry, we are moving in the right direction and in the end everybody will win from it – learning from the experiences of other countries – every high added-value job created in a country will create four additional jobs to it.“
Director of the Estonian Investment Agency, Kaspar Kork, added that it was only a year ago when the first meeting with Nilar’s Chairman of the Board took place, two of the key topics discussed (and later one of the factors why Estonia was chosen) were the country’s transparent business culture and a common view on the use of green technology between the company and Estonia. „This project is an example of how innovative, ambitious and science-intensive industrial companies are making quick decisions – what used to take years before, can be done in less than a year now.“
„I would like to thank all of the Investment Agency’s employees connected to the project and especially our Deputy Head of Global Business Development, Mr. Toomas Meltsas that made it possible,“ he added.
Nilar is a Swedish developer and manufacturer of cost-effective, safe and environmentally friendly stationary energy storage systems, known as Electrical Energy Storage (ESS) systems. Energy storage can be used to bridge the gap between energy supply and demand in order to, for example, better make use of the potential of more erratic power generation from renewable energy sources, such as solar energy and wind power. Nilar supplies energy storage solutions for residential, industrial and commercial buildings. In the future, Nilar intends to provide solutions for infrastructure projects such as energy storage for grid support (e.g EV charging). Nilar uses a long-proven nickel-metal hydride (NiMH) chemistry with water-based electrolyte, which generates environmental and safety benefits along with a competitive price point over the life cycle of the systems. Nilar recently announced offering of shares on Nasdaq First North Premier Growth Market.