Eurocell in advanced talks with the Netherlands for $800m gigafactory.
Eurocell, the Anglo-Korean next-generaon baery company, has confirmed that it is in advanced discussions to build its first European Gigafactory in the Netherlands, supplying baery cells to the energy storage and e-mobility ecosystem across the connent.
Eurocell intends to construct its new Gigafactory in two phases reaching full capacity as early as 2025. The first phase will produce advanced baery cells at scale by early 2023 for exisng European customers. The second phase, potenally on the same site, will be capable of producing more than 40 million cells per year by 2025.
Represenng an inial investment of $800m rising to $2bn by 2028 to support the fast growing Energy Storage market in Europe, the Gigafactory will create hundreds of direct and indirect jobs, transferring vital skills from Korean baery experts, as well as boosng the economy in this strategic sector crucial to achieving the Netherlands’ and Europe’s net zero ambions.
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Eurocell will produce ‘producon ready’ technologies in just 12 months, far faster that other Gigafactories, using its proven baery product which is verified and validated for scaled-up manufacturing.
Nick Clay, Chief Commercial Officer, Eurocell EMEA, “In its Climate Policy, the Netherlands outlines its ambion to lead Europe in the fight against global warming with a comprehensive strategy to reduce emissions across industries.”
“With rapid expansion plans in Europe, Eurocell is encouraged by the posive engagement we have had with both the Dutch Government and NOM investment and development agency for the Northern Netherlands over the last few months. As we enter the final stages of discussions, we are confident that we will be able to confirm the exact locaon of our first European Gigafactory in the near future.”
Eurocell’s baeries, developed in Korea, also have a considerable technical advantage, lasng over ten mes longer than convenonal lithium-ion cells, making them far more sustainable, with no ‘end of life’ issues and perfect for ESS applicaons given it is also 100% safe.
Eurocell EMEA is backed by its South Korean partners with decades of experience in electro- chemistry, making baeries at mass-scale and building Gigafactories. It has ambious expansion plans which have been strengthened by the number of compeve opportunies available in Mainland Europe idenfied during its search for the first phase of its project.
Highlights:
- Netherlands has ambion to lead Europe in the fight against climate change
- Eurocell is in advanced discussions with authories and the NOM investment and development agency in the Netherlands
- $800m investment to create Gigafactory capable of producing more than 40 million baery cells per year by 2025
- First stage of a $2bn investment plan to supply baeries to the fast growing energy storage sector
- Gigafactory will create hundreds of direct and indirect jobs and transfer vital skills from Korean baery experts
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EUROCELL IN FINAL STAGES OF DISCUSSIONS TO BUILD FIRST EUROPEAN GIGAFACTORY IN
THE NETHERLANDS, Birmingham UK, August 17, 2022
