Eni and Seri Industrial partner to build a European lithium iron phosphate battery supply chain, targeting energy storage growth.
Eni Industrial Evolution and FIB, a subsidiary of the Seri Industrial Group, have entered into a strategic agreement aimed at establishing a fully integrated industrial supply chain for lithium iron phosphate (LFP) batteries. The partnership marks a significant step toward strengthening Europe’s battery manufacturing capabilities and supporting the continent’s energy transition goals. The transaction follows the framework agreement signed on May 16, 2026, with the parties confirming that the closing process will be finalized within the contractual deadline of five days from the announcement.
The collaboration is designed to create a comprehensive industrial platform that will cover multiple stages of the battery value chain. The project will encompass the production of lithium iron phosphate battery cells and modules, the assembly of battery systems for stationary energy storage applications, and solutions for industrial and commercial electric mobility. Looking ahead, the partners also plan to expand into additional activities, including battery recycling, recovery of valuable materials, and the manufacturing of active cathode materials, creating a more circular and sustainable battery ecosystem.
A central component of the initiative is the expansion of industrial operations at the Teverola hub in Caserta, Italy, where FIB already operates the country’s first lithium iron phosphate battery cell production facility. Building on this foundation, the companies intend to significantly increase production capacity and broaden their manufacturing footprint.
Under the agreement, Eni Storage System S.p.A., a company jointly controlled by Eni Industrial Evolution and FIB, will oversee the development of a large-scale battery energy storage system (BESS) assembly line at the Teverola-Brindisi industrial hub. The facility is expected to become operational during the first half of 2027. In addition, plans are in place to construct a second gigafactory dedicated to the production of battery cells and modules. Scheduled for completion by 2029, the new facility is expected to achieve an annual production capacity exceeding 8 gigawatt-hours, substantially boosting domestic and European battery manufacturing capabilities.
As part of the transaction structure, Eni Industrial Evolution will acquire a 30% shareholding in a newly created company established by FIB, while FIB will retain the remaining 70% ownership. This entity will focus on commercial development activities, procurement functions, and engineering services related to the project. The investment includes a fixed consideration of €55 million, with additional provisions for price adjustment mechanisms based on agreed contractual terms.
The initiative aligns with broader efforts to establish a competitive and resilient European battery industry. By combining the technological expertise, industrial capabilities, and market experience of both organizations, the partnership seeks to strengthen local battery production and reduce dependence on external supply chains. The companies aim to secure more than 10% of the European stationary battery market, positioning themselves as key contributors to the continent’s growing energy storage sector.
Commenting on the agreement, Umberto Carrara, Chief Executive Officer of Eni Industrial Evolution, stated that the partnership represents another important milestone in Eni’s industrial transformation strategy. He emphasized that the collaboration advances the company’s objective of building a complete battery value chain, ranging from critical raw materials to advanced energy storage solutions, while leveraging innovative technologies and long-term industrial partnerships.
Vittorio Civitillo, Chief Executive Officer of Seri Industrial, described the agreement as a landmark achievement for the group. He noted that partnering with Eni, Italy’s largest company, is both a source of pride and a validation of Seri Industrial’s long-term efforts in the battery sector. According to Civitillo, the collaboration is strategically significant for Italy, helping establish a strong national presence in a critical industry at a pivotal moment in the global energy transition.
