Key highlights
- Eni invests US$70 million in a US$297 million capital raise for Nouveau Monde Graphite, joined by Canada Growth Fund, Investissement Québec and a public equity offering.
- After closing Eni will hold about 11.5% of NMG and secure a Board seat.
- Proceeds will develop the Matawinie natural graphite mine and NMG's Bécancour battery-materials refining plant.
- The transaction, subject to NMG AGM approval in the second half of May 2026, enables exclusive supply talks for graphite and active anode material to support Eni's Brindisi stationary lithium‑battery gigafactory.
Investment
Eni will invest US$70 million in a US$297 million capital increase in Nouveau Monde Graphite, alongside Canada Growth Fund, Investissement Québec and a public equity offering.
Ownership and governance
On closing Eni is expected to hold about 11.5% of NMG’s share capital and obtain a Board seat.
Use of proceeds
Raised funds will support development of the Matawinie high‑quality natural graphite mine and downstream refining at NMG’s Bécancour Battery Material Plant.
Commercial rights and approvals
The transaction enables Eni to negotiate exclusive supply agreements for graphite and active anode material to support its Brindisi stationary lithium‑battery gigafactory; it is subject to approval at NMG’s AGM in the second half of May 2026.
