Anglo-Korean battery manufacturer Eurocell may build its very first European Gigafactory in the Netherlands. The company plans to invest around 800 million euros in order to produce over 40 million battery cells per year from 2025 on. In the first phase, the Gigafactory will produce advanced battery cells at scale by early 2023 for existing European customers.
Eurocell and the Gigafactory in the Netherlands
Nick Clay, Chief Commercial Officer, Eurocell EMEA, commented: “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, apparently last 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. The aforementioned investment is an initial one, then rising to $2bn by 2028 to support the fast growing energy storage market in Europe.