What is the core objective of Eni and Seri Industrial's joint agreement?

The core objective is the joint development of an industrial supply chain in the lithium iron phosphate (LFP) battery sector, specifically for producing LFP battery cells and modules, and assembling systems for stationary energy storage and electric mobility in industrial and commercial sectors.

What are the key milestones and investments outlined in the agreement?

The agreement includes completing an assembly line for utility-scale battery energy storage systems (BESS) in Teverola-Brindisi by early 2027; building a second gigafactory producing over 8 GWh per year by 2029; expanding FIB’s operations at the Teverola hub; and Eni Industrial Evolution acquiring a 30% stake in a new FIB-established company for €55 million plus price adjustments, with closing within five days.

Eni and Seri Industrial to Jointly Develop Stationary Battery Supply Chain

May 28, 2026

Eni and Seri Industrial have signed an agreement to jointly develop a lithium iron phosphate battery supply chain, aiming to capture over 10% of the European stationary market. Plans include expanding assembly lines by 2027 and building a gigafactory producing over 8 GWh annually by 2029.

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Eni and Seri Industrial to Jointly Develop Stationary Battery Supply Chain

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