Serbian battery maker company ElevenEs said it produced a prototype of the largest battery cell in Europe following a two-year development programme.
It claims it is the first and largest full-size LFP (lithium iron phosphate) cell.
Customer deliveries of the cell, called Edge, are set to start in the first quarter of 2023, the company said in a statement.
The company said LFP technology is characterised by greater safety, lower cost, and increased sustainability (does not require nickel and cobalt). It says researcher Bloomberg NEF reports LFP will reach 40% of the global battery market share.
ElevenEs says LFP batteries last twice as long as the most common competing technologies. Car makers such as Tesla, Volkswagen, BMW, Mercedes and Ford have already introduced LFP cells in their fleets.
The company expects to close its series B financing round later this year, expand production capabilities to 300-500MWh, and bring strategic investors in to accelerate growth.
Its laboratory and R&D centre have been operational since June 2021, and the first-stage production plant is due to be completed by January 2023. The first stage of giga-scale production (8GWh) is expected by the end of 2025.
The European Battery Alliance said the demand for sustainable and domestically produced batteries is on the rise in Europe. “The reliability and product leadership of European battery makers is, therefore, more imperative than ever,” it added.
ElevenEs is an industrial spin-off project of Al Pack Group, a multinational aluminium processor.