The company ElevenEs
from Subotica has completed a 2-year development program and produced a prototype of the largest LFP battery cell in Europe. According to their website, customer deliveries are to start in the first quarter of 2023.
The company announced that its EDGE battery cell would be displayed at The Business Booster annual international networking event in Lisbon on September 28-29.
LFP technology, which according to Bloomberg NEF in 2022, will reach 40% of the global battery market share, is characterized by greater safety, lower cost, and increased sustainability (does not require nickel and cobalt). In addition to its proven safety features in electric vehicles, LFP batteries last twice as long as the most common competing technologies.
In recent months, leading car companies such as Tesla, Volkswagen, BMW, Mercedes, Ford, and others have already introduced LFP cells in their fleets.
– After creating and testing more than 500 laboratory sample cells, we have developed the final cell chemistry and design and grown into an international team into nearly 50 people. We are delivering according to our plans and expect to close our Series B financing round later this year, expand our production capabilities to 300-500 MWh, and onboard several strategic investors to accelerate our growth further – said Nemanja Mikać, CEO of ElevenEs.
Additionally, he has highlighted that ElevenEs will offer to the market 3 distinct EDGE battery cell sizes in a prismatic format.
ElevenEs is an industrial spin-off project of Al Pack
Group from Subotica, a multinational aluminum processing leader with almost three decades of experience and know-how in high-precision aluminum processing, a key component of the electrode production that forms the active part of the LFP battery.
The laboratory and the R&D center have been operational since June 2021, and the first-stage production plant will be completed by January 2023. The first stage of giga-scale production (8 GWh), with its capacity to deliver batteries for 200,000 cars per year, is expected by the end of 2025. A further expansion plan is expected to be announced soon.
The press release adds that, despite an increased number of startup companies announcing expansion plans, the battery market in Europe remains underserved. Europe’s demand for sustainable and localized batteries is on the rise, so the reliability and product leadership of European battery makers is becoming imperative.