Latest developments in the European battery industry

Welcome back to our members and readers after the seasonal break that we hope was pleasing and relaxing. To kick off the new year, we would like to share some recent investments and annoucements at different levels of the battery value chain.

These continue to illustrate the positive and dynamic developments of the European battery industry, and include the followings:

• The European Bank for Reconstruction and Development’s (EBRD) investing CAD$8.5 million to support Euro Manganese’s development of the Chvaletice Manganese Project in the Czech Republic. The project entails re-processing a significant manganese deposit hosted in mine tailings from a decommissioned mine. Read more here.
• India’s largest private sector company Reliance Industries Ltd investing £100 million to acquire 100% shareholding in UK-based Faradion and another £25 million as growth capital to accelerate commercial roll out. Faradion is one of the leading global sodium-ion battery technology companies. Read more here.
• Northvolt producing the first lithium-ion battery cell at the large-scale production facility in Skellefteå, Sweden. This marks a major milestone for the European battery industry. Read more here.