BAKU, Azerbaijan, April 10. Italy’s energy
major Eni has announced a strategic equity investment in Nouveau
Monde Graphite (NMG), a Canadian company listed on the Toronto
Stock Exchange and the New York Stock Exchange and active in the
natural graphite and advanced battery materials sector, Trend reports via
Eni.
The transaction involves an investment by Eni of $70 million, as
part of a broader capital increase totaling $297 million.
Alongside Eni, the capital raise has been subscribed to by major
Canadian institutional investors, including Canada Growth Fund and
Investissement Québec, backed by the governments of Canada and
Québec respectively, as well as through a public equity
offering.
Following completion of the transaction, Eni is expected to hold
approximately 11.5% of NMG’s share capital and will secure a seat
on the company’s Board of Directors.
The funds will support the development of the Matawinie Mine, a
key project focused on high-quality natural graphite, a critical
input for the battery industry and other high-margin industrial
applications.
Matawinie forms part of NMG’s vertically integrated platform,
which includes graphite extraction and downstream processing at its
Bécancour Battery Material Plant.
The investment aligns with Eni’s broader strategy to diversify
its supply chains and expand into the critical minerals
segment.
“The investment enables Eni to enter the critical minerals value
chain through a partnership with a leading player in the sector,
while leveraging its distinctive technological know-how,” the
company said.
Additionally, the deal provides Eni with the option to negotiate
exclusive supply agreements for graphite and active anode
materials, supporting its gigafactory initiative for stationary
lithium battery production currently under development in the
Brindisi industrial area.
The transaction remains subject to approval by NMG shareholders
at the company’s Annual General Meeting scheduled for the second
half of May 2026.
