Italian energy major Eni and battery storage company Seri Industrial have officially launched FAENIX, a new joint venture dedicated to advancing the commercial and technological development of Europe’s lithium iron phosphate (LFP) stationary battery supply chain. The announcement was made on Monday, marking a significant step in strengthening Europe’s domestic battery manufacturing capabilities and supporting the region’s growing energy storage market.
The project was first announced in May 2026 and has now entered its operational phase with the formal establishment of the new company. FAENIX has been created through a partnership between FIB, a subsidiary of Seri Industrial, and Eni Industrial Evolution, a company established by Eni to develop new industrial businesses linked to the energy transition.
Under the joint venture structure, FIB will hold a 70% stake, while Eni Industrial Evolution will own the remaining 30%. The partners said the company will focus on the commercialization and technological advancement of lithium iron phosphate batteries for stationary energy storage applications, a segment witnessing rapid growth due to increasing renewable energy deployment and grid modernization efforts across Europe.
FAENIX will market battery products manufactured at the Teverola and Brindisi facilities in southern Italy. These sites are central to the partners’ long-term strategy of creating an integrated battery manufacturing hub capable of serving the expanding European Battery Energy Storage System (BESS) market.
Construction has already begun at the Brindisi site, where Eni Storage Systems is developing a Battery Energy Storage System (BESS) assembly line alongside a battery gigafactory. According to the companies, these facilities are expected to play a key role in supporting Europe’s transition towards cleaner and more resilient energy infrastructure.
Once fully operational, the Teverola and Brindisi plants are projected to achieve a combined annual production capacity of 16 GWh. Seri Industrial said this output would represent more than 10% of the European stationary BESS market, positioning FAENIX as a significant player in the continent’s battery storage ecosystem.
The development will take place in phases. The BESS assembly line is expected to be completed during the first half of 2027, enabling the company to begin assembling energy storage systems for commercial deployment. A second gigafactory, designed with a production capacity of more than 8 GWh per year, is scheduled to become operational by 2029, further expanding manufacturing capabilities.
Lithium iron phosphate (LFP) batteries have gained significant traction in recent years due to their long cycle life, improved thermal stability, enhanced safety characteristics, and competitive costs compared with other lithium-ion battery chemistries. These features make LFP technology particularly suitable for stationary energy storage applications, where reliability and long-term performance are critical.
The establishment of FAENIX aligns with broader European efforts to strengthen regional battery production, reduce dependence on imported battery technologies, and build a resilient supply chain for clean energy solutions. As demand for battery energy storage continues to rise alongside renewable power generation, the new venture is expected to contribute to Europe’s energy transition by supporting grid stability and accelerating the deployment of large-scale storage systems
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