Industrial Batteries Ltd. – A Leading Supplier of Traction, Stationary and Backup Power Batteries

In October 2025, Industrial Batteries Ltd. received the Sustainable Development Award at the prestigious “The Great Little Ones” business awards. For our company, this recognition reflects the consistency with which we have built our corporate culture over the years. It confirms that our commitment to technological automation and digitalization, social responsibility, and environmental sustainability delivers measurable and lasting results.

According to recent international research conducted by Ernst & Young and the University of St. Gallen, family-owned businesses around the world continue to demonstrate remarkable resilience despite rising raw material costs, global uncertainty, and geopolitical challenges. Bulgarian companies are part of this positive trend, and Industrial Batteries Ltd. stands as an example of long-term vision, sustainable growth, and market stability.

How It All Began

Twenty-nine years ago, Georgi Tonkov founded a small family business in Targovishte, Bulgaria. Supported from the very beginning by his wife, who embraced his vision and became his business partner, they laid the foundations of what has grown into one of the leading companies in the industrial battery sector.

The responsibilities within the company naturally evolved according to their expertise. Georgi Tonkov focused on engineering, finance, and strategic development, while his wife led the commercial activities and marketing. An economist by education and entrepreneur by vocation, Georgi Tonkov is the Co-Founder and Chief Executive Officer of Industrial Batteries Ltd.

The company initially operated as a distributor of lead-acid traction batteries manufactured by Energiya AD, one of Bulgaria’s historic battery manufacturers. A significant part of Industrial Batteries’ heritage is closely connected to the legacy of Energiya AD, making the company an indirect successor to one of Bulgaria’s oldest manufacturers of traction and stationary batteries.

From the very beginning, we developed a business model that was unique in the local market, continuously improving every stage of the product life cycle. Our success has always been built on honest customer relationships, attention to detail, and uncompromising quality.

Behind today’s achievements stand years of dedication, seven-day workweeks, 12-14 hour working days, and countless challenges. Those experiences shaped our company and prepared us for the next stage of growth.

In 2005, we established a modern service center equipped with professional diagnostic and repair equipment for traction and stationary batteries. We expanded our portfolio by offering comprehensive after-sales services, including battery refurbishment, repair, and recycling.

As the business continued to grow, we launched our own PERPETUUM traction battery production line in 2009. Today, PERPETUUM offers a wide range of battery cells manufactured in accordance with European quality standards.

Our international expansion began in 2011 with the opening of Industrial Batteries’ representative office in Bucharest, Romania, significantly increasing our market presence throughout the region.

Throughout every stage of our development, we have remained committed to continuous improvement.

“Every year we improve our existing products and expand the services we provide to our customers.”

Commitment to Quality

Product quality has always been one of our highest priorities. In 2015, Industrial Batteries became the official partner and distributor of TAB d.d., Slovenia, one of Europe’s leading battery manufacturers.

TAB’s fully automated manufacturing facilities produce premium-quality batteries that have earned the company a leading position in the European market. Industrial Batteries Ltd. serves as TAB’s principal distributor for both Bulgaria and Romania.

TAB industrial batteries are widely selected as original equipment by many of the world’s leading forklift manufacturers, including STILL, Jungheinrich, Crown, Caterpillar, TCM, Toyota, and others.

Growth During Challenging Times

Over the past several years, Bulgarian businesses have faced significant challenges, including political instability, the war in Ukraine, inflation across Europe, rising energy and fuel prices, and the slowdown of the European economy.

Despite these adverse conditions, Bulgarian companies—including Industrial Batteries—have demonstrated resilience, adaptability, and sustainable growth.

In 2025, Industrial Batteries Ltd. was recognized among Bulgaria’s fastest-growing small and medium-sized enterprises. The ranking included 1,891 companies that achieved significant improvements in their financial performance, with revenue growth serving as the primary evaluation criterion.

Inspired by global industry leaders and international best practices, Georgi Tonkov developed a long-term strategy focused on technological advancement, automation, digital transformation, and continuous process improvement.

This strategy naturally led to substantial investments supporting the company’s long-term development.

“In 2025, we invested in a new manufacturing facility, automation, and robotic production technologies. These investments enable us to improve operational efficiency, increase productivity, and strengthen our competitiveness. Implementing the latest manufacturing technologies is our way of preparing confidently for the future. We firmly believe that innovation is the foundation of sustainable growth, long-term competitiveness, and environmental responsibility.”

— Georgi Tonkov

About Georgi Tonkov

Georgi Tonkov is an entrepreneur with a clear vision and extensive expertise in the industrial sector. As Co-Founder and Chief Executive Officer of Industrial Batteries Ltd., he has led the company’s successful development for nearly three decades, establishing it as one of Bulgaria’s leading suppliers and manufacturers of industrial battery solutions.

He holds Master’s degrees in Economics and Law from the University of National and World Economy (UNWE).

His professional career began as a Sales Manager at a Bulgarian manufacturer of material handling equipment. Following his success in the industry, he was appointed to oversee the company’s markets across Central and Eastern Europe and later became Manager of its regional office in Budapest, Hungary.

His international experience provided valuable expertise in the manufacturing and distribution of forklift trucks and industrial batteries. This knowledge later became the cornerstone of Industrial Batteries Ltd.

Today, the company continues to strengthen its position as one of Bulgaria’s key players in the industrial battery market, driven by its founder’s long-term commitment to innovation, product quality, and trusted partnerships.

Georgi Tonkov is married and has three children, some of whom are already actively involved in the continued development of the family business.