Eni and FIB reach agreement for LFP BESS supply chain in Italy

Eni Industrial Evolution and the Seri Industrial group, through FIB, have reached an agreement for the joint development of an integrated industrial supply chain in the lithium iron phosphate (LFP) battery sector.

“The initiative is aimed at the creation and development of 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 the future, further activities, including materials recycling and recovery and the production of cathode active material,” the two companies wrote in a joint statement.

Following the agreements reached today, the parties write, the closing will be completed within 5 days.

The project involves FIB developing industrial operations at the Teverola (Caserta) facility, where the first lithium iron phosphate cell production plant is already operational. Furthermore, Eni Storage System, a jointly controlled company between Eni Industrial Evolution and FIB, is expected to complete the utility-scale energy storage system (BESS) assembly line at the Teverola-Brindisi facility by the first half of 2027. The goal is to then build the second gigafactory for cell and module production, with a capacity 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 from FIB, of which FIB will retain a 70% stake. The consideration for the stake includes a fixed component of €55 million, plus any price adjustment mechanisms.

The project targets over 10% of the European stationary battery market.

From pv magazine Italy.