The State Will Accelerate Innovation and Will Not Be a Brake on Business. The state will accelerate innovation and will not be a brake on business. We are starting with a qualitative administrative reform and a new coordination unit under the Council of Ministers, which will work in support of Bulgarian and foreign companies. This was stated by Deputy Prime Minister and Minister of Economy, Innovation, and Industry Alexander Poulev during a visit to a high-tech manufacturing base for battery energy storage systems (BESS) in Hemus Industrial Park in Chelopechene. The state will accelerate innovation and will not be a brake on business BESS) in the Hemus Industrial Park in Chelopechene. He familiarized himself with the operations at the IPS factory, which launched production at the end of last year and has a capacity of 3 GWh per year.
The Deputy Prime Minister emphasized that the government’s management program is committed to encouraging precisely this type of high-value-added manufacturing, European integration, proprietary patented technologies, and a qualified workforce. The technology was developed by IPS Deputy Prime Minister and Minister of Economy Alexander Poulev: The state will accelerate innovation and will not be a brake on business and is produced entirely in Bulgaria. The company produces battery modules, cooling systems, software, control systems and inverters within an integrated production model, the company’s management said.
“It is a matter of pride that a Bulgarian company is part of the critical energy infrastructure of the EU,” Poulev added during the tour of the facilities. The investment in IPS received strategic status from the European Commission under the Net-Zero Industry Act (NZIA). This places Bulgaria among the countries developing European manufacturing capacities for clean technologies and energy transition systems.
Deputy Prime Minister Alexander Poulev and the CEO of IPS, Aleksandar Rangelov, discussed opportunities for the stimulation of Bulgarian production by the state. The Minister of Economy announced that various mechanisms and financial instruments for direct business support have already been developed. According to him, the financial instruments, together with the Bulgarian Development Bank and the Bulgarian Export Insurance Agency, will include subsidized loans, as well as guarantee and insurance products to support domestic business.