Grenoble, France – 6 July 2021 – Less than one year after its creation, the French company Verkor announces today that it has raised more than €100 million. This fund-raising structured around EQT Ventures and Renault Group, with the participation of the French Government and Auvergne-Rhône-Alpes Region, will support the company’s expansion, and in particular that of the Verkor Innovation Centre (VIC) where the innovative battery cells and modules will be designed to meet Europe’s carbon-neutrality targets. Groupe IDEC, Schneider Electric, Capgemini, Arkema, Tokai COBEX and the Fonds de Modernisation Ecologique des Transports (FMET) managed by Demeter are also contributing to this round of financing.
The 10 partners are united by the same vision of building a local competitive and sustainable battery sector in Europe. Verkor is bringing this vision to fruition with a production capacity of 16 GWh in 2024 and at least 50 GWh by 2030. The VIC, which will be operational at the end of 2022 in Grenoble (France), is a major step forwards in the accomplishment of this vision. The VIC will house a battery cell pilot line, an R&D centre, module prototyping, test facilities, along with the training of a new generation of engineers and technicians.