EnerSys and ING Sustainable Investments made equity investments in Verkor

Expansion of the shareholder pool with the addition of a new American industrial partner and a leading European bank
Their arrival demonstrates the strength and attractiveness of Verkor

Grenoble – October 30, 2024 – Verkor announced that ING Sustainable Investments, part of leading European banking player ING Group, and EnerSys, a world leader in energy storage solutions for industrial applications, have both made equity investments in it. The arrival of these two new investors represents a further major step forward for the industrial company, whose ambition is to accelerate the production of low-carbon batteries in Europe.

ING Group, which has long been active in financing the energy transition, particularly in the battery production sector, is investing in Verkor via its Sustainable Investment fund. This equity investment is in addition to ING’s participation in the €1.3 billion bank financing announced in May 2024 for the construction of the Dunkirk Gigafactory.

Following on from discussions initiated almost two years ago, EnerSys recently entered into a prototype agreement with Verkor to produce EnerSys’s ENS1 li-Ion battery cells. This agreement involves the development of a new battery format by teams at Verkor’s Grenoble innovation center. This agreement illustrates Verkor’s diversification strategy in terms of products, markets and geography.

Benoit Lemaignan, CEO of Verkor, comments:

The arrival of ING Sustainable Investments and EnerSys in our capital confirms Verkor’s attractiveness.

“As a company fully committed to the development of a sector and a player in a competitive, low-carbon industry, we are delighted to be able to count on the ongoing support of a broad ecosystem of public and private partners.”

Mark Weustink, Head of ING Sustainable Investments, comments:

Our investment in Verkor, in combination with the financing offered by our lending colleagues, is a good example of how ING can support clients such as Verkor, to be able to lead in the energy transition.

“We want to support Verkor in its growth ambitions and with this we focus on the long term. ING as a group has very explicit and ambitious sustainability targets, in which we have our role. We want to make an important contribution to the decarbonisation of society and the economy, in which electric mobility will continue to play an important role”.

EnerSys President & CEO David M. Shaffer said:

EnerSys is accelerating the global clean energy transition by significantly expanding our production of lithium-ion batteries across a broad range of end markets and applications.

“With Verkor’s expertise in lithium-ion electrode chemistry and high-performance products, they are the ideal manufacturing partner for us. We are pleased to have moved forward with our prototype agreement and made a strategic investment to support their growth.”

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EnerSys and ING Sustainable Investments made equity investments in Verkor, source

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