Serbia will build a gigawatt battery plant that will produce lithium iron phosphate batteries (LFP) for the transportation and energy storage industries. This is the first such battery production plant in Europe.

ElevenEs is a start-up company spun off from the aluminum processor AlPack Group. The company has developed its own lithium iron phosphate battery (LFP) production process. The company's goal is to achieve an annual production capacity of 300MWh by 2023, and plans to increase production capacity by building an 8GWh battery factory in Subotica, Serbia, powered by renewable energy power generation facilities.

The battery production plant built by ElevenEs is located close to Jadar Valley, which is considered to be the largest lithium deposit in Europe. The company plans to hire 2,000 employees for the factory. The company has established a strategic partnership with EIT InnoEnergy, which is an investor supported by the European Union.

The European Battery Union is an industry alliance led by EITInno Energy. The alliance aims to promote the development of the lithium-ion battery value chain ecosystem and has invested in companies such as Northvolt. EITInno Energy's goal is to have a production capacity of 150GWh by 2030, and its first super factory is under construction in Sweden.

EITInno Energy recently announced the establishment of a partnership with ElevenEs, including its investment support for ElevenEs. Jakub Miller, CEO of EITInno Energy in Central Europe, said, “Lithium iron phosphate batteries are the next important part of the battery field. Although NMC ternary lithium batteries are superior to lithium iron phosphate batteries in energy density, they are still the best in automobiles. Best choice, but lithium iron phosphate batteries are much superior in terms of cost, safety and lifespan, making them a good choice for industrial, battery energy storage systems and urban electric vehicle applications." Keywords: International Engineering News, Foreign Countries Project Information

ElevenEs founder and CEO Nemanja Mikać pointed out that the cost of lithium iron phosphate batteries is much lower than that of nickel-manganese-cobalt (NMC) ternary lithium batteries and other battery products, and they have a longer service life and lower potential fire safety risks.Editor/Baohongying