Flash Battery closes an outstanding 2021
25 March 2022
Flash Battery, Italy-based specialist in lithium batteries for industrial machines and electric vehicles, announced that revenues for 2021 amounted to €17.3 million, up 25% on the previous year.
With 2020 having seen a 5% growth in revenues despite a slowdown in production in the first half of the year due to the Covid-19 pandemic, in 2021 the company also registered a significant increase of 16% in new hires, bringing the total number of employees to 65, more than a third of whom are involved in R&D activities.
In 2021 Flash Battery opened new headquarters with an investment of €7.5 million and will celebrate in 2022 its 10th anniversary.
Marco Righi, CEO of Flash Battery, pointed out that 2021 registered a significant increase of 25% in foreign revenues and that the company is now present in 54 countries.
He said: “Last year we joined BEPA (the Batteries European Partnership Association), an entity that brings together more than 170 industrial companies, universities and research institutes committed to attaining the goals set out at the end of 2020 by the European Commission in the context of the Horizon Europe Programme; this grouping will pour more than €925 million into research and innovation projects in the battery sector.”
At the same time, Flash Battery has established several partnerships with powertrain system integrators, such as Atech in Germany, Efa France in France and Q-Tronic in Benelux. “Along with Italy”, added Righi, “these three markets are fundamental to the progress of the industrial electric transition, especially considering that together they account for more than 80% of the entire European market for the electrification of industrial machinery and electric vehicles”.
Currently, 35% of the company’s output is directed abroad. However, considering that the batteries supplied to Italian customers are installed in machines and vehicles that will be exported all over the world, more than 80% of Flash Battery’s production is actually internationally oriented.
“The electrification market is constantly evolving”, said Righi. “Up till five years ago, we would never even have dreamed of electrifying an excavator or an agricultural machine, whereas today, in conjunction with the broad field of logistics, we have developed several electric prototypes in the construction and agricultural sectors, to name but a few.”