April 25, 2025: Italy’s Seri Group has secured a syndicated loan of €150 million ($170 million) to help fund development of an 8GWh LFP battery manufacturing plant near Naples.

Seri said on April 8 the loan will support the cost of its Teverola 2 project, which is being built on the same industrial site as its pilot 0.35 GWh/year Teverola 1.

The pooled loan was backed by several international financial institutions.

Seri already produces LFP cells and modules at the site for ESS systems, motive power, naval and electric mobility applications.

Teverola 2 will also have a pilot line for the recycling of spent lithium batteries, processing around 50 tonnes of end-of-life batteries daily.

Seri said its goal is to replicate the successful recycling business model of the lead battery industry.

Meanwhile, Swiss tech group Bühler has won a contract to supply four continuous mixing lines for electrode slurry production at the plant. Bühler said the lines are scheduled for installation by the end of this year with production expected to begin in 2026.

In 2020, Bühler delivered an electrode slurry production system for Teverola 1.