en.Wedoany.com Reported - Eni Industrial Evolution and FIB (Seri Industrial Group) have signed an agreement to jointly develop an integrated industrial supply chain in the lithium iron phosphate battery sector.
Under the recently signed agreement, to execute the framework agreement dated May 16, 2026, the closing will be completed within five days as stipulated in the contract.
The plan aims to create and develop an integrated industrial platform, encompassing the production of lithium iron phosphate battery cells and modules, assembly for stationary energy storage applications, and industrial and commercial electric mobility systems. Future activities will include material recycling and reuse, as well as the manufacturing of cathode active materials.
The project involves industrial activities carried out by FIB at the Teverola (Caserta) hub, where the first lithium iron phosphate cell production plant is already operational. Eni Storage System, jointly controlled by Eni Industrial Evolution and FIB, will complete the utility-scale energy storage system (BESS) assembly line at the Teverola-Brindisi hub in the first half of 2027, and build a second gigafactory by 2029 for the production of cells and modules, with an annual capacity exceeding 8 GWh.
As part of the transaction, Eni Industrial Evolution will acquire a 30% stake in a newly established company by FIB, with FIB retaining a 70% stake. This company focuses on the commercial development of the project, as well as procurement and engineering activities. The share consideration includes a fixed portion of €55 million and any price adjustment mechanisms.
The project is part of the development of the European battery industry, leveraging the complementary industrial expertise of the two companies. Its goal is to contribute to the growth of energy storage system production in Europe and capture over 10% of the European stationary battery market.
Umberto Carrara, CEO of Eni Industrial Evolution, stated: "Today we announce a substantive agreement with Seri Industrial, which confirms the concreteness of Eni's industrial transformation plan and adds a new piece to complete the supply chain puzzle, from critical materials to energy storage production, thanks to innovative technologies and long-term industrial partnerships."
Vittorio Civitillo, CEO of Seri Industrial, stated: "We are delighted to have finally finalized the terms of this extraordinary transaction for our group. Having Eni, Italy's largest company, alongside us is a great source of pride and honor. This collaboration is not only a recognition of our years of work but also of strategic importance for the country: Italy has finally completed a systemic transaction that ensures a solid and authoritative presence in a strategic sector during a critical phase of the energy transition."
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