Investment
14 September 2023
The French battery manufacturer has secured more than €2 billion of financing following the signing of a minimum of €850 million Series C funding round, approval of the European Investment Bank for €600 million of debt support and French subsidies of approximately €650 million, subject to final approval by the European Commission.
The financing will accelerate the construction of Verkor’s first gigafactory in Dunkirk and the manufacture of high performance low-carbon battery cells. Verkor’s gigafactory will have an initial production capacity of 16 GWh/year and is expected to be operational by 2025. The funding will also support ongoing technological developments at the Verkor Innovation Centre for new manufacturing technologies alongside strategic investments across the battery value chain.
