Promovec CEO becomes principal investor in battery maker Viridus

In January 2023 Danish entrepreneur and Promovec CEO Jesper Lundqvist increased his investment in Viridus Manufacturing and, as a result, is now the main shareholder of the company.

He said of the stake building in the battery maker: “This investment enables the potential of a large Scandinavian battery pack maker with the largest manufacturers and customers within micro mobility to create the fuel of the future.”

The investment journey first began in 2019 when the Promovec Group set up a joint venture, creating the battery pack facility in Denmark. The know-how behind the venture was built on 15+ years of manufacturing experience and since that time the firm has gone on to produce north of 30,000 batteries for the eMobility marketplace. These are produced with a high level of automation and skilled labour.

Viridus’ battery pack production is said to work around a “green approach” to production of battery packs by using upcoming European lithium-iron cells, which reduces the CO2 footprint dramatically.

From the very start, the factory has had a focus on sustainability and claims to have run with zero-emissions. To improve the zero-emission measurements further, Viridus Manufacturing moved into a completely new factory in August 2022, built according to the sustainable DGNB standards. This factory is carbon neutral and packed with sustainable features, such a wastewater recycling system, biodiversity gardens, CO2 neutral heat pump, reusable building materials, waste sorting, solar panels, plus bike and car charging stations.

Promovec is the parent to UK electric bike firm Batribike, which it took a majority stake in last year.