Co-funded by the
European Union
Verkor announces its Series C and secures more than €2 billion to launch its high-performance battery gigafactory
Launched in 2020 with the support of EIT InnoEnergy, Verkor aims to ramp up low-carbon battery manufacturing in Europe to meet growing demand for electric vehicles and stationary storage.
With this Series C, the industrial startup secures more than €2 billion to:
– launch the construction of their first gigafactory, in Dunkirk, and the manufacture of high-performance low-carbon battery cells,
– accelerate the ongoing technological developments at the Verkor Innovation Centre (VIC) for new manufacturing technologies and new state-of-the-art product.
The largest equity raise for a French start-up
For this fundraising, Verkor gathered 1st class investors such as Macquarie Asset Management, Meridiam, Renault Group, EQT Venture, Sibanye-Stillwater, Crédit Agricole Assurances, Pulse CMA CGM Energy Fund and of course EIT InnoEnergy.
The SPI investment fund (Société de projets industriels) which is operated by Bpifrance (the French public investment bank) is increasing its investment in this round, as part of the “Invest for the Future” programme.
Verkor counts also on the support of the European Investment Bank and they will also receive subsidies primarily from the French State under the “France 2030” plan, including the support of the Hauts-de-France region and the Dunkirk urban community,
A high-performance gigafactory
A new unicorn in InnoEnergy’s portfolio
Benoit Lemaignan, CEO of Verkor said
Emmanuel Macron, President of the French Republic, who very recently met with the investors at the Elysée Palace, commented:
