Eni (ENI) Invests €55M in Italian Battery JV, Targets 10% of Europe’s Storage Market

Eni SpA (ENI) announced on May 29, 2026, a €55 million investment in a joint venture with Seri Industrial’s subsidiary FIB to produce lithium iron phosphate (LFP) batteries, targeting more than 10% of Europe’s stationary energy storage market. The venture, Eni Storage System, will operate from FIB’s existing Teverola plant in southern Italy. It plans to complete a utility-scale battery assembly line by the first half of 2027 and develop a second gigafactory with annual capacity exceeding 8 GWh of cells and modules by 2029, alongside eventual recycling operations. The deal strengthens Eni’s foothold in Europe’s rapidly expanding battery storage sector as the continent accelerates efforts to build a domestic supply chain and curb dependence on Asian imports for grid stability and renewable integration.