BAKU, Azerbaijan, May 29. Eni and Seri
Industrial Group have signed agreements to jointly develop an
integrated industrial supply chain for lithium iron phosphate (LFP)
batteries in Italy, advancing plans first outlined in a framework
deal reached on May 16, 2026, Trend reports via Eni.
The company said the transaction is expected to close within
five days following the latest agreements.
The initiative is aimed at creating a fully integrated
industrial platform covering the production of LFP battery cells
and modules, assembly of battery energy storage systems (BESS) for
stationary applications, as well as solutions for industrial and
commercial electric mobility. The partners also plan to expand into
battery material recycling, recovery activities and cathode active
material production in the future.
Under the project, FIB S.p.A. will expand industrial operations
at its Teverola hub in Caserta, where Italy’s first LFP battery
cell production plant is already operating.
Meanwhile, Eni Storage System S.p.A. — jointly controlled by Eni
Industrial Evolution and FIB — plans to complete a utility-scale
BESS assembly line at the Teverola-Brindisi hub by the first half
of 2027. The partners also aim to launch a second gigafactory for
battery cells and modules by 2029, with planned production capacity
exceeding 8 GWh per year.
As part of the agreement, Eni Industrial Evolution will acquire
a 30% stake in a newly established company created by FIB, while
FIB will retain a 70% shareholding. The new company will focus on
commercial development, procurement and engineering activities
related to the project.
The value of the transaction includes a fixed component of 55
million euros, in addition to possible price adjustment
mechanisms.
The partners said the project is intended to support the
development of Europe’s battery manufacturing industry and aims to
secure more than 10% of the European stationary battery market
through combined industrial expertise.
