Eurocell, the Anglo-Korean next-generation battery company, has confirmed it is in advanced discussions to build its first European Gigafactory in the Netherlands.
The site would supply battery cells to the energy storage and e-mobility sectors across the continent.
Eurocell intends to construct its new Gigafactory in two phases reaching full capacity as early as 2025.
The first phase will produce advanced 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.
Eurocell is in advanced discussions with authorities and the NOM investment and development agency in the Netherlands.
The development represents an initial investment of $800m, rising to $2bn by 2028.
Aiming to support the fast growing energy storage market in Europe, 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.
Nick Clay, chief commercial officer, Eurocell EMEA, said: “In its climate policy, the Netherlands outlines its ambition to lead Europe in the fight against global warming with a comprehensive strategy to reduce emissions across industries.
“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 Korea, last more than ten 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.
Eurocell EMEA is backed by its South Korean partners with decades of experience in electro-chemistry, making batteries at mass-scale and building Gigafactories.