18 March 2021
This week, EIT InnoEnergy announced its support of Euro Manganese’s Czech-based Chvaletice Manganese Project, helping fulfil ambitions to create a competitive and sustainable battery cell manufacturing value chain in Europe.
In addition to an initial investment of €250k, EIT InnoEnergy will help Euro Manganese secure financing for full-scale commercial development up to €362m for the commercial development of the Chvaletice Manganese Project. EIT InnoEnergy will also help Euro Manganese secure customer offtake agreements by leveraging its network of industrial partners, including the European Battery Alliance (EBA), for which it runs the industrial development programme.
The news follows a 12 March, 2021 announcement from European Commission Vice-President, Maroš Šefčovič that a €900m partnership is to be established between Horizon Europe and the EBA to foster research and innovation in the battery sector. Following a ministerial meeting of the EBA that included EU ministers and the European Investment Bank (EIB), Šefčovič said: “The EIB’s involvement is decisive here to de-risk raw materials projects, leverage additional private money and effectively, to close the estimated financial gap of 15 billion euros by 2025.”
In the same meeting, Šefčovič tasked EIT InnoEnergy with creating the ‘EBA250 Academy’ to help bridge the emerging battery value chain skills gap by upskilling and reskilling citizens. With several large-scale industrial projects coming online over the next few years, Europe is expected to become the second largest battery cell manufacturer in the world, creating 800,000 direct jobs by 2025.