Founder Booking.com scores $1.3 billion to build batteries

Founder Booking.com scores $1.3 billion to build batteries

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Dutch startup Lithium Werks from Hengelo, Netherlands, has endowed an amount of $1.3 billion. The company has been credited to provide wholesome energy storage solutions. It has taken up the work of designing and manufacturing lithium-ion battery and portable power equipment products for the energy storage systems, industrial, medical, military, government, and small mobility markets.

Kees Koolen from Booking.com is the CEO

Behind every major leap is a guiding force that gives the trajectory of growth a direction, Lithium Werks too is under the leadership of CEO Kees Koolen, the former CEO of Booking.com. His guidance and business acumen is set to take Lithium Werks to be a success story in the industry.

Koolen is a Brabant farmer’s son who has garnered esteem and prosperity through Booking.com. He was one of the founders of the hottest Dutch companies, which is listed on the 290th position in the Quote 500, and the company also participates annually in the Dakar Rally.

Koolen is set to announce two major deals which would impact his future. It is one of the conjectures that the company is set to take over another company that is three times as large as Lithium Werks itself.

Expansion in China

With this major investment, the Dutch battery maker is set to establish its footing by constructing a gigantic factory in China. Lithium Werks already has a factory in China. The new factory will have a production capacity of 8-gigawatt hours per year. That amounts to the power needed to propel 160,000 cars. The batteries are not intended for cars, but for trucks and boats. The plant must be operational at the beginning of 2021. The project scale would be a headstart, as by 2030 company would like to have installed production capacity for 500 GWh annually. Koolen too believes that the scale size is very important to be able to produce efficiently.

Lithium Werks has been a fast-growing global lithium-ion battery enterprise. With its rapidly growing production enterprises in China and its offices in the USA, the Netherlands, Northern Ireland, Great Britain and Norway, Lithium Werks is definitely going to be a game changer.

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