Eni Industrial Evolution and FIB, part of Seri Industrial Group, have entered into an agreement to jointly develop an integrated industrial supply chain focused on lithium iron phosphate battery products for stationary storage and electric mobility. Under the new deal, building on the framework agreement of May 16, 2026, the closing is expected within five days. The partnership will create a platform encompassing cell and module production, system assembly for stationary and commercial applications, and future expansion into recycling, material recovery and cathode material production.
FIB S.p.A. will lead industrial activities at its Teverola (Caserta) hub, home to its first operational lithium iron phosphate cell plant. By mid-2027, Eni Storage System S.p.A.—a joint venture between Eni Industrial Evolution and FIB—will finalize an assembly line for utility-scale battery energy storage systems at the Teverola-Brindisi hub. A second gigafactory, targeting annual cell and module capacity exceeding 8 GWh, is slated for completion by 2029.
As part of the transaction, Eni Industrial Evolution will acquire a 30% stake in a newly formed FIB subsidiary, with the remaining 70% held by FIB. This company will handle commercial development, procurement and engineering for the project. The acquisition price includes a fixed component of €55 million, subject to customary adjustment mechanisms.
The initiative supports the development of a European battery industry by leveraging the complementary expertise of both companies. It aims to strengthen Europe’s energy storage manufacturing capabilities and capture over 10% of the regional stationary battery market.
“This agreement reinforces Eni’s industrial transformation and its commitment to building a complete supply chain from critical materials to finished energy storage products,” said Umberto Carrara, CEO of Eni Industrial Evolution.
Vittorio Civitillo, CEO of Seri Industrial, noted, “The partnership highlights Italy’s progress in establishing a robust presence in the energy transition’s strategic sectors.”
Source: Eni
