Energy storage firm Verkor attracts EnerSys, ING as investors

Energy storage solutions provider Verkor said on Wednesday that it has received undisclosed equity investments from US industrial battery manufacturer EnerSys (NYSE:ENS) and Dutch banking and financial services firm ING Group (AMS:INGA) as the company seeks to expand production in Europe.

ING Group is making the investment through its Sustainable Investment fund. Earlier this year, the lender participated in a EUR-1.3-billion (USD 1.40bn) financing package agreed by Verkor for the construction of its Dunkirk Gigafactory.

EnerSys, in turn, joins Verkor’s shareholder base after a recently signed prototype agreement under which Verkor will produce the US firm’s ENS1 li-Ion battery cells. The partnership includes the development of a new battery format by teams at Verkor’s Grenoble innovation centre.

Founded in 2020, Verkor is currently working on its first Gigafactory in France that will supply batteries for electric vehicles (EV) and stationary storage across Europe. The planned facility will be located in the coastal city of Dunkirk and will have an initial production capacity of 16 GWh per year.

(EUR 1 = USD 1.082)

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