Cenergy Holdings announces that its Board of Directors has approved the expansion of Hellenic Cables Americas’ manufacturing facility in Baltimore, Maryland, in the US, through the installation of additional cable insulation lines.
The expansion will significantly increase the facility’s initially planned production capacity for onshore power cables, strengthening Hellenic Cables’ ability to serve the rapidly growing US market. It will also enable the company to respond directly to rising demand driven by the modernisation of electricity grids, the development of data centres and the broader trend towards electrification. The expansion will be funded from the Group’s own resources, as proceeds from the 2024 share capital increase are already being used for the initial development of this facility.
The decision to increase the facility’s production capacity reflects the significant commercial momentum and continually expanding pipeline of new opportunities in the US market, in both medium- and high-voltage cable applications. It also confirms the parent company’s confidence in the long-term growth prospects of the US energy infrastructure market and reinforces the strategic importance of having a domestic manufacturing presence.
Electricity demand in the United States is rising at its fastest pace in decades, driven by data centres linked to the rapid growth of Artificial Intelligence, the expansion of domestic industrial production and the economy’s increasing electrification. Against this backdrop, the Baltimore facility is being developed as a scalable manufacturing operation that combines advanced technology, domestic production and proximity to customers.
Mr Alexiou, Chief Executive Officer of Cenergy Holdings, said: “The decision to increase the initially planned production capacity of our Baltimore facility reflects the significant opportunities we see in the US market and our confidence in its long-term growth prospects. Baltimore is evolving into a scalable manufacturing platform and a strong base for our growth strategy in the United States. This expansion will further strengthen our ability to support customers with reliable, locally manufactured cable solutions, while creating sustainable long-term value for our shareholders”.