MoU: Technology and production partnership with LFP Gigafactory project

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EAS Batteries and ElevenEs, an industrial spin-off of the Al Pack Group in Subotica/Serbia, agree: ElevenEs' know-how of industrial foil coating and EAS' know-how of lithium ion technology could complement each other perfectly to a high production volume of high-quality LFP cells. "ElevenEs focuses on the production of pouch and prismatic cells, which we can support in their development as LFP experts. In return, we would have perspective access to high-quality electrodes in large quantities for our portfolio of large-format LFP cylindrical cells," says EAS Managing Director Michael Deutmeyer. The cooperation between ElevenEs and EAS is conceivable on various levels - be it in the form of a licensing model for EAS technology, within a development and production partnership, or even joint sales activities of cells and more advanced projects, such as turnkey Energy Storage Solutions (BESS). "In ElevenEs we see a well-positioned partner with an interesting production location."
Serbia has a significant upstream battery value chain potential and increasingly, green power. Last autumn, ElevenEs received an investment from EIT InnoEnergy to support the development of a Gigafactory for battery cells. The European Institute of Innovation and Technology (EIT) is an EU institution. EIT InnoEnergy is responsible for the industrial area of the "European Battery Alliance", an initiative of the European Commission to build a strong and competitive European battery industry. “ElevenEs and EAS form an ideal and very complementary team for promoting high quality, safe and environmentally friendly LFP cell technology in Europe,” says Michael Deutmeyer. “I am very much looking forward to a long lasting and mutually beneficial collaboration.”