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Saxon Development Bank examines use of subsidies at battery manufacturer Blackstone Technology

The Sächsische Aufbaubank (SAB) is investigating whether the subsidies awarded to battery manufacturer Blackstone Technology in Döbeln were used correctly. According to the Ministry of Economics, the company must prove that at least ten percent of the investment costs have been incurred and paid before an initial grant can be called up. The fulfillment of this condition will be checked by means of invoices and payment receipts in order to exclude misuse of subsidies. The SAB will continue to closely monitor the subsidized investment project and the company.

The Saxon FDP is demanding clarification from the Ministry of Economics about the subsidies for a planned pilot plant by Blackstone. Party leader Anita Maaß expressed herself "shocked and surprised" about news on the apparently failed settlement of the company. Earlier, the "Sächsische Zeitung" had reported online on the matter, while Blackstone Technology could not be reached for comment on Monday.

Blackstone Technology plans to develop the next generation of sustainable batteries from 3D printers in Döbeln, which largely do without imported raw materials. Just over a year ago, the German Federal Ministry of Economics and Technology pledged 24.1 million euros in funding to the project. According to the "Sächsische Zeitung" newspaper, this was to create around 400 jobs in Döbeln. The Ministry of Economics said that of the 5.4 million euros granted, about 840,000 euros have been disbursed so far, half from the federal government and half from the state, with no EU money involved.

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