Cenergy Holdings plans to establish a cable manufacturing facility in Maryland. Its U.S. subsidiary, Hellenic Cables Americas, has officially acquired a 38 acre property in Wagner’s Point along the Patapsco River in Baltimore City, where it will support hundreds of direct and indirect jobs.
“We are excited to be part of Maryland’s expanding role in building a robust U.S. based supply chain for power transmission,” said Cenergy Senior Executive Thanasis Molokotos. “The support of the local community, city leaders, and state and federal representatives has been instrumental in reaching this important milestone for Hellenic Cables.”
“Maryland is proud to partner with Cenergy Holdings and Hellenic Cables to build a cleaner, greener, and more equitable future for all. By working together, we will create new jobs, make Maryland more competitive, and provide fresh pathways to work, wages, and wealth for more Baltimoreans,” said Governor Wes Moore. “Climate justice is economic justice. We don’t have to choose between a green economy and a growing economy—we can, and we will, choose both.”
Cenergy Holdings owns and operates leading industrial companies, focusing on the growing global demand of energy transfer, renewables, and data transmission. The company’s portfolio includes Hellenic Cables, which is positioned at the forefront of its high growth sector. Hellenic Cables is one of the largest cable producers in Europe, manufacturing power and telecom cables, as well as submarine cables for industries including offshore wind and utilities.
Earlier this spring, the company announced that Hellenic Cables received a federal Qualifying Advanced Energy Project tax credit to support its Baltimore manufacturing facility. The products are anticipated to support the upgrade of transmission and distribution power cables as well as offshore wind efforts.
During the construction period, Hellenic estimates hiring approximately 200 people in trades related positions. An estimated 120 new manufacturing jobs will be created when the factory is fully operational, toward the end of 2026. An estimated 250 indirect jobs will be supported by various services during both the construction and operational periods.
The announcement builds on Maryland’s commitment to renewable energy efforts and environmental sustainability across the state. The Maryland Department of Commerce and the Baltimore Development Corporation continue to assist Hellenic Cables with the ongoing planning surrounding the new manufacturing project.
“We’re proud to work with Hellenic Cables as they establish operations in Baltimore City,” said Maryland Department of Commerce Secretary Kevin Anderson. “This significant investment in our state will provide support for our manufacturing workforce and our energy sector, all while supporting our state’s pollution reduction plans.”
ION Storage Systems Opened Facility in Beltsville, MD
ION Storage Systems recently opened its Beltsville, MD, facility. ION, a manufacturer of safe, high energy density, fast charging solid-state batteries (SSB), recently received a $1 million state grant from the Build Our Future Grant Pilot Program, a $1.5 million commitment from the Maryland Technology Development Corporation, known as TEDCO, through the Maryland Venture Fund, and a $20 million award from the U.S. DOE’s Seeding Critical Advances for Leading Energy technologies with Untapped Potential (SCALEUP) program. During the visit to Beltsville, the governor announced $11 million in funding to support advanced manufacturing and innovation projects, as part of the Moore-Miller Administration’s commitment to making Maryland more competitive.
“We are thrilled to have Governor Moore visit our facility,” said Ricky Hanna, CEO of ION Storage Systems. “The support from the ‘Build Our Future Grant Pilot Program’ is a testament to the governor’s dedication to fostering innovation and supporting companies like ours that are driving technological progress. This grant, along with the $1.5 million TEDCO investment and the $20 million in federal DOE funding will accelerate our mission to provide cutting-edge Solid State Battery solutions. It also highlights Maryland as a logical and competitive landscape for other clean energy startups. With the state and federal government’s support, ION Storage Systems will grow to 80 employees by the end of the year as we scale up to meet demand. We thank the governor for his vision, leadership, and unwavering support.”
“ION Storage Systems is a Maryland original. Their success underscores our state’s growing leadership in science, technology, and advanced manufacturing,” said Gov. Moore. “Today, we take another step toward driving public investment in the innovation economy, creating jobs, and spurring growth for years to come. In partnership, we will make Maryland the best place in the world to change the world.”
During the visit, Gov. Moore and the delegation of elected officials toured ION’s cutting-edge facility, getting a firsthand look at the groundbreaking work in Solid State Battery technology. The tour showcased ION’s dedication to creating advanced, safe, and sustainable battery solutions that are set to transform the industry.
