UniCredit: loan of 20 million euros to Seri Industrial for the production of battery cells

Seri Industrial Spa, (BIT: SERI) the Italian group of companies that produces plastic materials and is a leader in Italy in the design and production of lead and lithium-ion batteries (FAAM Spa, Monterubbiano, Italy), has agreed to a 20 million euro loan with UniCredit.

The bank’s financing will go towards starting the new production plant in Teverola, in the province of Caserta, Italy. The project, called “Teverola1 – Lithium Project”, will create the first Italian site for the production of lithium cells and batteries (with lithium-iron-phosphate technology) as part of the re-industrialization program of the former Whirlpool plant.

The start of cell production is scheduled for spring 2021.

Previous articleLG Chem to triple cylindrical battery cell production
Next articleCEP and Marubeni unveil plans for 1GW battery and 1.5GW of solar in Australia