Battery manufacturer Verkor has secured over 250 million euros in financing from the European Investment Bank and other investors for its Verkor Innovation Centre, which is nearing completion.

Located in Grenoble, the 15,000-square-meter VIC includes an R&D lab for designing batteries, a pilot line with a capacity of 150 MWh per year, and a training centre called Ecole de la Batterie. The facility is expected to be operational in the first half of 2023.

Verkor’s next project will be to construct a Gigafactory at the Port of Dunkirk with initial production capacity of 16 GWh of batteries per year.

Ambroise Fayolle, VP of the European Investment Bank noted his institution’s “determination to build a better future using European technologies that address the urgency of the fight against climate change, as well as the objective to relocalise strategic value chains.” He added that the EIB has recently financed several other projects in the sector, including the Northvolt Gigafactory in Sweden and those of Renault in Douai and Stellantis in Douvrain.

“Last week, the European Union confirmed the objective of 100% zero-emission vehicles by 2035,” said Laurence Boone, State Secretary to the Minister for Europe and Foreign Affairs. “We are committed to developing French and European production capacities for electric vehicles and batteries, and to deploying charging infrastructure.”

Source: Verkor