ElevenEs to start works on 1GWh battery plant after Caterpillar-backed round

By Global Infrastructure Sherpa · Feb 18, 2026

Investment Battery Storage announced Serbia Feb 18, 2026

1 GWh

Capacity

construction

Stage

Serbia's ElevenEs to start works on a 1GWh battery plant after a Caterpillar-backed round of investment.

Deal Analysis

ElevenEs, a European LFP battery cell developer, is set to commence construction of a 1 GWh battery plant in Serbia following an investment round backed by Caterpillar. This investment will enable ElevenEs to scale its production capacity, contributing to the growing demand for battery storage solutions. The project signifies a step towards establishing a European supply chain for LFP batteries, a technology increasingly favored for its safety and cost-effectiveness.

Caterpillar's investment provides significant validation and financial backing for ElevenEs' expansion plans.
The 1 GWh plant represents a substantial increase in European LFP battery production capacity.
The project is located in Serbia, potentially leveraging lower production costs and access to the European market.
ElevenEs focuses on LFP battery technology, a growing segment within the battery storage market.

Market Context: The battery storage market is experiencing rapid growth, driven by the increasing adoption of electric vehicles and the need for grid-scale energy storage to support renewable energy sources. LFP batteries are gaining traction due to their safety, long lifespan, and lower cost compared to other battery chemistries. Europe is actively seeking to establish a domestic battery supply chain to reduce reliance on Asian manufacturers.