Eni, Seri sign deal to develop stationary battery supply chain
As part of the transaction, Eni Industrial Evolution is acquiring a 30% stake in a newly established company established by FIB, of which FIB will retain a 70% stake. The consideration for the stake includes a fixed component of EUR 55 million.
Italy’s Eni Industrial Evolution and FIB (Seri Industrial Group) have reached an agreement for the joint development of an integrated industrial supply chain in the lithium iron phosphate battery sector.
The initiative aims to create and develop an integrated industrial platform that includes the production of lithium iron phosphate battery cells and modules, the assembly of systems for stationary storage applications and for industrial and commercial electric mobility, and, in future perspective, additional activities, including materials recycling and recovery, and the production of active cathode material, according to a media release.
The project involves the development, by FIB S.p.A., of industrial activities at the Teverola (Caserta) hub, where the first lithium iron phosphate cell production plant is already operational. Eni Storage System S.p.A., a jointly controlled company of Eni Industrial Evolution S.p.A. and FIB S.p.A., will complete the assembly line for utility-scale storage systems (BESS) at the Teverola-Brindisi hub by the first half of 2027, and the second gigafactory for the production of cells and modules with an output of over 8 GWh/year by 2029.
As part of the transaction, Eni Industrial Evolution is acquiring a 30% stake in a newly established company established by FIB, of which FIB will retain a 70% stake. The company will be dedicated to the project’s commercial development and procurement and engineering activities. The consideration for the stake includes a fixed component of EUR 55 million, plus any price adjustment mechanisms, the media release said.
“Today we announce the substantial definition of the agreements with SERI Industrial, which confirms the concreteness of Eni’s industrial transformation plan and adds another piece to the puzzle of completing the supply chain from critical materials to the production of energy storage, leveraging innovative technologies and long-term industrial partnerships,” Umberto Carrara, Chief Executive Officer of Eni Industrial Evolution, said.
“Having Eni, Italy’s largest company, alongside us is a source of great pride and prestige. This partnership is not only a recognition of the work we have done over the years, but also of strategic importance for the country,” Vittorio Civitillo, Chief Executive Officer of Seri Industrial, said. “Italy is finally completing a systemic transaction capable of ensuring a solid and authoritative presence in a strategic sector, at a crucial stage of the energy transition.”
