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.
