Anglo-South Korean battery company Eurocell has confirmed that it is in advanced discussions to build its first European gigafactory in the Netherlands, to supply energy storage and emobility markets in the region.
Eurocell intends to construct its new factory in two phases reaching full capacity as early as 2025.
The first phase will produce battery cells at scale by early 2023 for existing European customers.
The second phase, potentially on the same site, will be capable of producing more than 40 million cells per year by 2025.
Representing an initial investment of $800m rising to $2bn by 2028 to support the energy storage market in Europe, Eurocell said the gigafactory will create hundreds of direct and indirect jobs, transferring vital skills from Korean battery experts, as well as boosting the economy in this strategic sector crucial to achieving the Netherlands’ and Europe’s net zero ambitions.
Eurocell will produce “production ready” technologies in just 12 months, “far faster” than other gigafactories, using its proven battery product which is verified and validated for scaled-up manufacturing.
Nick Clay, Chief Commercial Officer, Eurocell EMEA, said: “With rapid expansion plans in Europe, Eurocell is encouraged by the positive engagement we have had with both the Dutch Government and NOM investment and development agency for the Northern Netherlands over the last few months.
“As we enter the final stages of discussions, we are confident that we will be able to confirm the exact location of our first European Gigafactory in the near future.”
Eurocell’s batteries, developed in South Korea, can last “over 10 times longer” than conventional lithium ion cells, making them “far more sustainable, with no ‘end of life’ issues and perfect for ESS applications given it is also 100% safe”.