(Alliance News) - Eni Spa said Thursday that Eni Storage Systems, a company owned by Eni Industrial Evolution and FIB of the Seri Industrial group, today launched construction work at the Brindisi industrial site for a new integrated Italian and European hub to produce lithium-iron-phosphate batteries, mainly intended for storage systems that support the rollout of renewable energy and the stability of power grids.

Eni Storage Systems' development plan calls for building in Brindisi a gigafactory to produce battery cells and modules, as well as a battery pack assembly plant, the latter with increased capacity so it can also assemble modules coming from Seri Industrial's gigafactory in Teverola.

In the second phase, completing the project, Eni said that Brindisi will also host cathode active material production and battery recycling operations, both sized to serve the two gigafactories.

The project targets total capacity of 16 GWh/year by 2030, with half in Brindisi and half at the Teverola plant, equivalent to more than 10% of the European market for stationary storage.

Eni shares were down 0.9% at €21.07 per share, and Seri Industrial shares fell 0.4% to €2.83 per share.

By Chiara Bruschi, Alliance News reporter

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