Verkor, a Grenoble, France-based industrial company designing and manufacturing green batteries, secured more than €2 billion in financing.
This included:
- the signing of a minimum of €850m Series C funding, led by Macquarie Asset Management, via its Energy Transition Solutions Fund, with participation from Meridiam, Renault Group, EQT Ventures, EIT InnoEnergy and Sibanye-Stillwater, the SPI investment fund (Société de projets industriels), Crédit Agricole Assurances, the Fonds Stratégique de Participations (FSP), operated by ISALT, PULSE, the CMA CGM Energy Fund, and Airbridge Investments,
- approval of European Investment Bank for €600m debt support, and
- French subsidies for an amount around €650m, subject to final approval by the European Commission.
This financing will accelerate:
- the construction of Verkor’s first gigafactory, in Dunkirk, and the manufacture of highperformance low-carbon battery cells,
- ongoing technological developments at the Verkor Innovation Centre (VIC) for new manufacturing technologies and new state-of-the-art product,
- strategic investments across the battery value chain, thereby generating thousands of direct and indirect long-term jobs.
Led by Benoit Lemaignan, CEO, Verkor is building a gigafactory that will have an initial production capacity of 16 GWh/year. Situated in the Port of Dunkirk, the gigafactory is expected to be operational by 2025 and will create around 1,200 direct and 3,000 indirect jobs.
FinSMEs
03/10/2023