Eni and Seri Industrial to develop LFP stationary battery supply chain
- Eni Industrial Evolution will acquire a 30% stake in a FIB-established company for €55 million (plus potential adjustments), with FIB retaining 70%.
- The joint project targets an integrated LFP battery supply chain covering cell and module production, BESS assembly, and future recycling and active cathode material production.
- A BESS assembly line at the Teverola–Brindisi hub is due by H1 2027 and a second gigafactory exceeding 8 GWh/year for cells and modules is planned by 2029.
- Initial industrial activity will be at the Teverola (Caserta) hub, where the first LFP cell plant is already operational.
Deal and structure
Eni Industrial Evolution and FIB (Seri Industrial Group) agreed to jointly develop an integrated lithium iron phosphate (LFP) stationary battery supply chain; the transaction implements a framework agreement dated May 16, 2026, with closing to be completed within five days of signature.
Scope and facilities
The platform will cover LFP cell and module production, assembly of battery energy storage systems (BESS) for utility-scale and industrial/commercial mobility, and future activities including materials recycling and active cathode material production; initial industrial activity is at the Teverola (Caserta) hub, where a first LFP cell plant is already operational.
Timeline and capacity
A jointly controlled Eni Storage System company will complete a BESS assembly line at the Teverola–Brindisi hub by H1 2027, and a second gigafactory for cells and modules exceeding 8 GWh/year is planned by 2029.
Financials and objectives
Eni Industrial Evolution will acquire a 30% stake in a newly established FIB company (FIB retains 70%) for a fixed consideration of €55 million plus potential price adjustments; the project aims to scale European energy storage production and target a significant share of the European stationary battery market.
Source: Eni
