Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
iStock 12823280102
iStock 12823280102

EUROCELL IN FINAL STAGES OF DISCUSSIONS TO BUILD FIRST EUROPEAN GIGAFACTORY IN THE NETHERLANDS


 

  • Netherlands has ambition to lead Europe in the fight against climate change
  • Eurocell is in advanced discussions with authorities and the NOM investment and development agency in the Netherlands
  • $800m investment to create Gigafactory capable of producing more than 40 million battery cells per year by 2025
  • First stage of a $2bn investment plan to supply batteries to the fast growing energy storage sector
  • Gigafactory will create hundreds of direct and indirect jobs and transfer vital skills from Korean battery experts

 

Birmingham UK, 17th August: Eurocell, the Anglo-Korean next-generation battery company, has confirmed that it is in advanced discussions to build its first European Gigafactory in the Netherlands, supplying battery cells to the energy storage and e-mobility ecosystem across the continent.

Eurocell intends to construct its new Gigafactory in two phases reaching full capacity as early as 2025. The first phase will produce advanced battery cells at scale by early 2023 for existing European customers. The second phase, potentially on the same site, will be capable of producing more than 40 million cells per year by 2025.

Representing an initial 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 battery experts, as well as boosting the economy in this strategic sector crucial to achieving the Netherlands’ and Europe’s net zero ambitions.

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

 Eurocell will produce ‘production ready’ technologies in just 12 months, far faster that other Gigafactories, using its proven battery 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 ambition 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 positive 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 location of our first European Gigafactory in the near future.”

Eurocell’s batteries, developed in Korea, also have a considerable technical advantage, lasting over ten times longer than conventional lithium-ion cells, making them far more sustainable, with no ‘end of life’ issues and perfect for ESS applications given it is also 100% safe.

Eurocell EMEA is backed by its South Korean partners with decades of experience in electro-chemistry, making batteries at mass-scale and building Gigafactories. It has ambitious expansion plans which have been strengthened by the number of competitive opportunities available in Mainland Europe identified during its search for the first phase of its project.

 

Recent Post: