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Sunlight Group: appoints Chief Funding and Institutional Affairs Officer for the construction of its lithium-ion cells Gigafactory project

Athens, 17 January 2024

Sunlight Group, member of the Olympia Group, welcomes Nikos Mantzoufas, as Chief Funding and Institutional Affairs Officer for the construction project of Sunlight Group's lithium-ion cells Gigafactory. Mr. Mantzoufas will also be responsible for the integration and monitoring of Sunlight Group's projects funded through development initiatives and investment schemes in Europe and America.

With 14 years of experience in key government positions, Nikos Mantzoufas served until recently as Head of the Recovery and Resilience Fund in Greece and is the longest serving Special Secretary for Public Private Partnerships (PPPs). As the first Governor of the Special Service for the Coordination of the Recovery and Resilience Fund, he was responsible for the preparation and management of €32 billion Recovery Fund programs, as well as the negotiation and cooperation with the European Commission. Previously, as Secretary General for Strategic and Private Investments, he successfully developed and incorporated several investment projects into the State Development Act, as well as supported major strategic investments. Overall, during his term 15 PPP projects worth €2.4 billion were tendered and implemented in total.

With experience in important positions also in the private sector, such as at the investment banking practice at Bank of America, Head of Project Finance at Grant Thornton and as a member of the Board of Directors of the European Investment Bank, Nikos Mantzoufas has significant experience to contribute to the implementation of Sunlight Group's ambitious investment plan.

Sunlight Group, with the addition of Mantzoufas, is accelerating the development of the Sunlight Group's lithium-ion cells Gigafactory project, and the realization of its vision to establish itself as a leading provider of energy storage solutions globally, focusing mainly on Europe, America, and Southeast Asia-Oceania.

The company is already implementing a diversified investment plan based on 4+1 strategic pillars: Industrial Electrification of lead and lithium-ion, Energy Storage for Renewable Energy Sources using lithium-ion technology, Recycling of lead and lithium-ion batteries, Development, and production of lithium-ion cells on a Gigafactory scale and vertical integration of the supply chain in key parts for battery manufacturing. The 4+1 pillars, which are at different stages of maturity, are the priorities set by management to enable Sunlight not only to be active in the global market, but also to be a leader in innovative energy storage solutions.

Lambros Bisalas, CEO of Sunlight Group commented: “We welcome Nikos to the Sunlight team. I am confident that his significant experience and knowledge regarding the planning and participation in strategic European investment programs, along with his wider view of the international investment community in major industrial projects, will boost our investment ambitions for the construction of the first Gigafactory in Europe, targeting the production of lithium-ion cells for energy storage from renewable sources and industrial applications such as Intralogistics. The aim of the management team, in conjunction with the Board of Directors and shareholders, is to make Sunlight a global leader in the fast-growing energy storage market. In this regard, we have an extensive investment plan underway through which we are shaping the conditions for achieving this goal. Building an international level management team is an integral part of this plan and the addition of Nick is in this direction."

Commenting on his joining Sunlight, Nikos Mantzoufas said, "I am excited to join the Sunlight Group and the energy storage sector, which is essential for the further promotion of Renewable Energy Sources and the transition to Green Energy. The company is at the forefront of technology, operating in a rapidly evolving sector, and my goal is to contribute to the development of the lithium-ion cell Gigafactory project and the rapid execution of the investment plan through the use of appropriate investment tools. In cooperation with the management team, I am confident that we will make Sunlight a world leader in the production of lithium-ion cells specialized in renewable energy storage and industrial applications, and most importantly, that we will create industrial production in Greece in an area of high technological specialization."