PR92478

SUBOTICA, Serbia, Oct. 22, 2021 /PRNewswire=KYODO JBN/ --

- ElevenEs has developed its own LFP technology to produce batteries for

electric passenger cars, buses, trucks, forklifts, other industrial vehicles,

and energy storage systems.

- LFP batteries are more affordable, durable, sustainable and safer than

competing solutions, and they do not require cobalt, nickel, and other

hard-to-obtain minerals.

- The industrial spin-off will draw on 25 years of production experience to

build a 16 GWh factory in Serbia, which has one of the largest lithium deposits

in the world.

- ElevenEs has now secured investment from EIT InnoEnergy, a European

early-stage investor in other successful battery gigafactory projects,

including Northvolt and Verkor.

- EIT InnoEnergy is leading the industrial stream of the European Battery

Alliance, a European Commission initiative to build a strong and competitive

European battery industry.

By 2030, Europe will need 14 times more batteries than it produces today. This

is due to the growth of electric mobility and the energy storage market, which

requires batteries to stabilise energy systems, especially given the growing

share of renewable energy. Therefore, Lithium Iron Phosphate (LFP) batteries,

which combine the advantages of long life, affordability and safety, are

gaining an increasingly stronger position in the rapidly growing battery market.

ElevenEs, an industrial spin-off of the multinational Al Pack Group, which

specialises in aluminium processing and has been operating on the packaging

market for 25 years, has developed its own technology to produce

lithium-iron-phosphate batteries that are more sustainable and efficient. The

company, which has been conducting R&D into LFP lithium-ion batteries since

October 2019 has just recently opened an advanced research and development

centre in Subotica, Serbia, where it employs an international team of engineers

and scientists.

"LFP cells last more than twice as long as competing chemistries, they can be

recharged up to 6,000 times, charge faster, can be repeatedly charged to 100%

state-of-charge and cause practically no fires in EVs. On top of that, they

cost significantly less. It is the most popular choice in China today, which is

still the global leader in battery technology," says Nemanja Mikaa, founder and

CEO of ElevenEs.

Strategic partnership for the gigafactory

ElevenEs has just signed agreements with EIT InnoEnergy, which Pitchbook ranks

as the most active sustainable energy investor globally, known for being the

first investor in other successful battery gigafactory ventures, such as

Swedish Northvolt (recently closed $2,75 bn financing round) and French Verkor

(closed a $100 m strategic partnership with Renault in July 2021). The entities

announced a strategic partnership to build the first LFP lithium-ion battery

gigafactory in Europe.

By 2023, The ElevenEs plant will be able to produce LFP cells with a total

estimated annual capacity of 300 MWh. The construction of the 100% renewable

energy powered 8 GWh plant in Subotica (Serbia) will start in 2024. It will

later be expanded to a capacity of 16 GWh – enough to equip more than 300,000

electric vehicles (BEVs) with batteries each year. The company has stated that

it intends to employ up to 2,000 employees. Another key advantage is the fact

that the facility is also very close to Jadar Valley, the largest deposit of

lithium in Europe.

"LFP batteries are the next big thing on the battery landscape. Although

nickel-based batteries outperform LFP on energy density and are likely to

remain the best option for performance cars, LFP is far better in terms of

cost, safety and lifetime, making it a perfect choice for industrial, ESS and

city EV (shorter range) applications," says Jakub Miler, CEO at EIT InnoEnergy

Central Europe.

"We have been working with ElevenEs for the past year and a half, and what came

as the biggest surprise to us is that as much as 70% of the aluminium packaging

process and know-how coming from their mother company, Al Pack Group, can be

easily transferred to cell production. Having now developed their own LPF

technology, that industrial experience of the Al Pack Group should allow them

to progress much faster than any of their peers. And we are very excited to be

taking that journey together."

About ElevenEs

ElevenEs is an industrial spin-off of the multinational Al Pack Group, which

produces more than 40 million m² of processed aluminium foils every year and

has been operating on the packaging market for 25 years. The Al Pack Group uses

processes similar to electrode manufacturing, which is a key process in battery

production. ElevenEs has an advanced research and development centre that has

been operating since June 2021 in Subotica, Serbia, on the premises of its

parent company. It employs an international team of engineers and scientists.

www.elevenes.com

About EIT InnoEnergy

EIT InnoEnergy is the leading engine for innovation and entrepreneurship in

sustainable energy across Europe and beyond.  

EIT InnoEnergy has provided investments and added value services to some 380

sustainable energy related start-ups, of which 30+ are in storage, including

flagship players like Northvolt – a vertically integrated sustainable battery

manufacturer, Skeleton Technologies – a global leader in ultracapacitors who is

playing a key role within leading OEMs, and Verkor – a France-based company

building a gigafactory for the production of its battery cells.

EIT InnoEnergy was established in 2010, has invested Euro 560 million in

sustainable energy innovations and is supported by the European Institute of

Innovation and Technology (EIT), a body of the European Union.

www.innoenergy.com

Photo - https://mma.prnewswire.com/media/1664727/1098984_IMAGE.jpg

Source: EIT InnoEnergy