Eni and Seri Industrial have signed an agreement to jointly develop an integrated lithium iron phosphate (LFP) battery supply chain, spanning production, storage systems, and future recycling capabilities.
At the core of the plan is a full-scale industrial platform covering lithium iron phosphate cell and module production, system assembly for stationary energy storage (BESS), and applications across industrial and commercial electric mobility.
The partners also outlined future expansion into materials recycling and recovery, as well as production of active cathode materials.
Manufacturing will be anchored at the Teverola hub in Italy’s Caserta region, where FIB (Seri Industrial Group) already operates an LFP cell plant.
A second major expansion is planned: Eni Storage System S.p.A.—a jointly controlled entity between Eni Industrial Evolution and FIB—will complete a utility-scale BESS assembly line between Teverola and Brindisi by the first half of 2027. A second gigafactory, targeting more than 8 GWh per year of cell and module output, is scheduled for 2029.
As part of the transaction, Eni Industrial Evolution will acquire a 30% stake in a newly created company led by FIB, which will retain 70%. The venture will focus on commercial development, procurement, and engineering. The deal includes a €55 million fixed payment, plus adjustment mechanisms.
Strategically, the companies are positioning the project as a bid to strengthen Europe’s domestic battery industry and capture more than 10% of the continent’s stationary battery market.
“Today we announce the substantial definition of the agreements with SERI Industrial, which confirms the concreteness of Eni's industrial transformation plan and adds another piece to the puzzle of completing the supply chain from critical materials to the production of energy storage, leveraging innovative technologies and long-term industrial partnerships.”
Vittorio Civitillo, Chief Executive Officer of Seri Industrial, stated: "We are delighted to have finalized the terms of this extraordinary transaction for our group. Having Eni, Italy's largest company, alongside us is a source of great pride and prestige.
"This partnership is not only a recognition of the work we have done over the years, but also of strategic importance for the country: Italy is finally completing a systemic transaction capable of ensuring a solid and authoritative presence in a strategic sector, at a crucial stage of the energy transition."
