Eni launches lithium battery production project in Italy

The Italian energy group Eni has announced that it and Seri Industrial are launching a project in the south of Italy to produce stationary Lithium batteries.

Eni has a plan to increase its energy transition activities and reduce its exposure in the petrochemical industry.

Eni announced last year that it would close its two last steam crackers in Italy and invest 2 billion euros (2,35 billion dollars) in bio-refineries and chemical recycling.

Battery storage systems are needed to provide power in the absence of solar or wind energy.

Eni Storage Systems, a joint venture with Seri Industrial, aims to produce over 8 gigawatt hours per year of lithium-iron-phosphate batteries at Eni's Brindisi site.

Seri Industrial, Eni and other companies have stated that they are aiming to capture more than 10% market share in Europe for stationary batteries.

The project is currently in its engineering phase. It is going through economic, financial, and authorisation assessments, which are expected to be completed in the first quarter next year.

The companies stated that the Brindisi facility will soon implement battery recycling which will be available to other operators within the sector.

(source: Reuters)