PR97999

SUBOTICA, Serbia, Sept. 26, 2022 /PRNewswire=KYODO JBN/ --

ElevenEs has completed a 2-year development program and produced a prototype of

the largest battery cell in Europe. Customer deliveries to start in the first

quarter of 2023.

The first and largest full-size LFP (Lithium Iron Phosphate) battery cell in

Europe was developed by ElevenEs, a pioneer in battery cell development. Its

first batches will be shipped for customer testing in the first quarter of

2023. The company announced that its EDGE battery cell would be displayed at

The Business Booster, EIT InnoEnergy's annual international networking event

that showcases over 150 leading sustainable energy technologies from around the

world, held in Lisbon, Portugal, on September 28th and 29th this year.

Nemanja Mikać, CEO of ElevenEs with the LFP battery cell

LFP technology, which according to Bloomberg NEF in 2022, will reach 40% of the

global battery market share, is characterized by greater safety, lower cost,

and increased sustainability (does not require nickel and cobalt). In addition

to its proven safety features in electric vehicles, LFP batteries last twice as

long as the most common competing technologies. In recent months, leading car

companies such as Tesla, Volkswagen, BMW, Mercedes, Ford, and others have

already introduced LFP cells in their fleets.

"After creating and testing more than 500 laboratory sample cells, we have

developed the final cell chemistry and design and grown into an international

team into nearly 50 people. We are delivering according to our plans and expect

to close our Series B financing round later this year, expand our production

capabilities to 300-500MWh, and onboard several strategic investors to

accelerate our growth further," said Nemanja Mikać, CEO of ElevenEs.

Additionally, he has highlighted that ElevenEs will offer to the market 3

distinct EDGE battery cell sizes in a prismatic format, which will be

competitive against all presently available mass-produced batteries in the

global market.

"A year ago, at the same conference, this company was still only an early

development project, and this battery did not exist. It is impressive to see

what they have accomplished in such a short time," said Diego Pavia, CEO of EIT

InnoEnergy.

ElevenEs is an industrial spin-off project of Al Pack Group, a multinational

aluminum processing leader with almost three decades of experience and know-how

in high-precision aluminum processing, a key component of the electrode

production that forms the active part of the LFP battery.

The laboratory and the R&D center have been operational since June 2021, and

the first-stage production plant will be completed by January 2023. The first

stage of giga-scale production (8GWh), with its capacity to deliver batteries

for 200.000 cars per year, is expected by the end of 2025. A further expansion

plan is expected to be announced soon.

Despite an increased number of startup companies announcing expansion plans,

the battery market in Europe remains underserved.

For companies that are far advanced in product development, such as ElevenEs,

the rapid growth will come from a relentless product focus and well-executed

industrialization strategy. Europe's demand for sustainable and localized

batteries is on the rise, so the reliability and product leadership of European

battery makers is becoming imperative.

About ElevenEs

ElevenEs is a pioneer in LFP (Lithium Iron Phosphate) cathode battery

technology and the creator of the first and largest full-size LFP battery cell

in Europe.

The company is an industrial spin-off from Al Pack Group, a multinational

industry leader in aluminum processing. By making widely accessible and

cost-effective energy storage solutions we are providing batteries for electric

cars and mass transport, and making a sustainable future inclusive and

inevitable process.

www.elevenes.com　

Photo - https://mma.prnewswire.com/media/1905634/Nemanja_Mikac_CEO_ElevenEs.jpg

SOURCE: ElevenEs