IDB Invest Partners with UCB Power to Boost Battery Production in Brazil and Drive Social Impact

- The $35 million financing package aims to increase battery production in Brazil.
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440,000 people are expected to benefit from increased energy access and job creation over the next four years.
IDB Invest has joined forces with UCB Power, a leading energy storage solutions provider in Brazil, to drive growth in Latin America's battery sector through a $35 million financing package. The project will enhance the region's energy storage capabilities, foster economic development, and support social initiatives in the Amazon region.
The initiative will benefit 440,000 people through improved energy access and reliability, while strengthening supply chains and expanding energy storage solutions, including off-grid options for remote populations. Additionally, the project will create new formal jobs in the industry. Over the next few years, the company is expected to have more than 600 permanent direct employees, nearly 50% of whom are women, exceeding the average of 23% in the Brazilian industrial sector.
The financing package consists of two components: a $25 million loan, disbursed in Brazilian reais, dedicated to expanding battery production capacity at UCB's facilities in Manaus, Amazonas, and Extrema, Minas Gerais. The second component is a $10 million credit line designed to enhance the company's import capabilities, ensuring a stable energy supply and improved operational efficiency.
UCB is expected to more than double its workforce to over 1,400 employees and generate more than 700 new formal jobs. The company will continue promoting equal opportunities and aims to maintain or increase the share of women employees on its permanent workforce.
Additionally, IDB Invest will offer advisory services in key strategic areas. These include climate-related digital transformation, aimed at developing advanced tracking and monitoring solutions to gather performance data from batteries during operation. Additionally, IDB Invest will support the creation of a strategy to support Afro-leadership with a gender lens approach.
This partnership exemplifies a scalable model for addressing critical energy challenges while aligning with resilience and social goals. It is expected to contribute to the following United Nations Sustainable Development Goals: (SDG 5) Gender Equality, (SDG 7) Affordable and Clean Energy, (SDG 8) Decent Work and Economic Growth, (SDG 9) Industry, Innovation and Infrastructure and (SDG 12) Responsible Consumption and Production.
About IDB Invest
IDB Invest is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of US$21 billion in managed assets and 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that respond to the needs of its clients in various sectors. Visit our website idbinvest.org.
About UCB
UCB is a leading energy storage solutions provider in Brazil. With 51 years of experience in the market, the company combines extensive experience and electronic manufacturing with the development of energy storage solutions. UCB is the first manufacturer of lithium batteries in Brazil. It is a leader in the production of stationary batteries, portable batteries for cell phones and laptops, and batteries for electric mobility. The headquarters are in São Paulo, with 1 industrial plant Manaus, Amazon and Extrema, Minas Gerais, in Brazil and commercial partnerships offices in Asia. UCB is a signatory of the UN Global Compact and ranks among the top one thousand companies in Brazil according to the Valor 1000 ranking. It is the national leader in supplying energy storage solutions for isolated communities and remote systems, telecommunications solutions, and critical applications.