Eni Industrial Evolution and FIB form joint venture to develop lithium iron phosphate battery supply chain in Italy

Type: Partnership · Technology: Storage · Country: Italy · Announced: 2026-05-29

Eni Industrial Evolution and FIB, through Seri Industrial, agreed to form a joint venture to develop an integrated industrial supply chain for lithium iron phosphate (LFP) batteries in Italy. The partnership includes the production of LFP battery cells and modules, assembly of stationary storage systems and commercial electric mobility applications, and future recycling and cathode active material production activities. Eni Industrial Evolution will acquire a 30% stake in a newly established FIB company for a fixed consideration of €55 million plus potential price adjustments, with FIB retaining 70% ownership. The joint venture aims to capture over 10% of the European stationary battery market. Eni Storage System, a 50-50 joint venture between Eni Industrial Evolution and FIB, will complete a utility-scale battery energy storage systems (BESS) assembly line at the Teverola-Brindisi hub by mid-2027. The partners plan to commission a second gigafactory with annual production capacity exceeding 8 GWh by 2029.

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