Verkor to set up new battery production facility in Europe

WCN Editorial Team 31 Jul 2020 EUROPE BUILDINGS

Verkor, an industrial company, has announced its plans to set up a battery production facility in Europe, with support from EIT InnoEnergy, Schneider Electric and the GROUPE IDEC.

The battery production facility will be located in southern Europe and will produce batteries for electric vehicles and stationary storage. Currently, the company is in search of more than 200 hectares of land to build the facility.

Production at Verkor’s first facility is expected to start in 2023, with a capacity of 16GWh and plans to increase it to 50GWh according to the market dynamics.

With a capital requirement of €1.6bn, the facility is expected to create more than 2,000 direct jobs and thousands of jobs across the supply chain and the ecosystem.

Verkor CEO Benoit Lemaignan said: “Our team is made up of industrial entrepreneurs who have accumulated vast experience in the field, especially in battery-cell manufacturing.

“We are multinational and growing fast with the addition of new talent from all over the world. We are working in an agile, fast-follower mode to bring locally manufactured, low-CO2 battery cells to the market.

“Combined with the expertise of our strategic partners, I am confident that we are aligning the winning conditions to start the construction of a highly efficient manufacturing Gigafactory in 2022, deliver our first cells in 2023, and stepping up of industrial activities, key to accelerating low carbon mobility in Europe.”

EIT InnoEnergy CEO Diego Pavia said: “The first VerkorGigafactory will help bridge the gap between Europe’s planned demand and currently forecasted European supply in this decade.

“Verkor’s unique value proposition on manufacturing optimisation and excellence is welcome.

The strategic partnerships they are building make us confident that Verkor will deliver.

“Coupled with the Covid recovery, the initiative will further accelerate the French and European battery value chain, from mining to recycling, and boost the growth of hundreds of businesses across France and Europe.”

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Artist’s rendering of the Gigafactory to be built by Verkor. (Credit: EIT InnoEnergy SE.)

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