Energy Storage News•about 11 hours ago
Caterpillar VC backs startup ElevenEs as it builds 1GWh LFP cell factory in Serbia
Key Takeaway
Caterpillar's investment in a European LFP battery factory signals a strategic move towards localized, diversified, and potentially more stable battery supply for energy storage projects.
AI Summary
- •Caterpillar's venture capital arm has invested in ElevenEs, a startup establishing a 1GWh LFP battery cell factory in Serbia, Europe.
- •This investment signifies growing confidence in European LFP battery production, aiming to diversify supply chains and potentially stabilize battery costs for regional energy storage projects.
- •The new 1GWh LFP cell manufacturing facility will contribute to meeting the increasing demand for battery storage solutions across Europe.
- •For developers and large power consumers, this initiative could lead to more competitive pricing, reduced geopolitical supply risks, and shorter lead times for grid-scale and industrial battery storage deployments in the European market.
Topics
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