Eurocell, the Anglo-Korean battery company, is set to build its first European Gigafactory. It will produce proven production-ready technologies in just 12 months, far faster than other Gigafactories.
This will be possible because Eurocell has a proven battery product that is ready for scaled-up manufacturing. With an initial £600 million investment planned over two phases, it intends to supply European energy storage, automotive electric vehicle (EV) and emobility applications. Full capacity will be reached as early as 2025.
The company will mass-produce and export its market-leading technologies from one of three key markets including the UK, the Netherlands and Spain. It is already actively looking at sites and the final choice is dependent on gaining the right level of central government support and investment.
The host country selected will benefit from the creation of hundreds of direct and indirect jobs, transferring vital skills from Korean battery experts and boosting the economy in a strategic sector crucial to achieving Europe’s net zero ambitions.
Eurocell’s batteries, developed in Korea, also have a considerable technical advantage, lasting over 10 times longer than conventional lithium-ion cells, making them far more sustainable.
Plus, there are no ‘end of life’ issues making them perfect for energy storage system (ESS) applications given its 100 percent safe and high performance. Their wide range of operating temperatures also makes them ideally suited to areas with extreme weather and without an existing grid network.
Recardo Bruins, Eurocell EMEA CEO, said: “Eurocell in the UK is a new company, led by a highly experienced UK team and backed by our South Korean partner with decades of experience in electro-chemistry, making batteries at mass-scale and building the Gigafactories to produce them.
“Now we are planning to rapidly expand in Europe, supplying the energy storage and automotive industries with our market-leading technologies that last longer, perform better and are 100 percent safe. These products can be on the market in months, not years.
“To fulfil our mission, we are actively seeking a European manufacturing base and are in advanced discussions with sites in the UK, Netherlands and Spain. With the right level of central engagement and support, we are keen to take advantage of the rapidly growing European market as quickly as possible.”
Eurocell intends to construct its new Gigafactory in two phases. The first phase will begin producing advanced battery cells at scale by early 2023 for existing customers. In parallel, a bespoke facility will be constructed on the same site, capable of producing in excess of 40 million cells per year by 2025.