Verkor secures 1.3 billion euros for its battery gigafactory

Verkor, a start-up specializing in electric batteries, obtains a €1.3 billion loan to finance its gigafactory in Dunkirk, after raising over €2 billion in capital.
Gigafactory Verkor Dunkerque Batteries

Partagez:

Verkor has announced that it has secured 1.3 billion euros in green financing with the support of 16 commercial banks and 3 public banks. This sum will finance the construction of the company’s first gigafactory, located in Dunkirk, France, with an initial production capacity of 16 GWh/year. The financing agreement was signed in the presence of the French Minister of Industry, Roland Lescure, underlining the importance of this project for reindustrialization and the energy transition in France. This financing comes on top of the more than 2 billion euros raised by Verkor last September, bringing the total funds secured for the Gigafactory and Verkor Innovation Centre to over 3 billion euros. The Gigafactory is scheduled to produce its first low-carbon battery cells in 2025, creating around 1,200 direct jobs and 3,000 indirect jobs over the next two years. This is good news for the town, which is already involved in wind power projects.

Impact on the automotive industry and the energy transition

Verkor’s gigafactory in Dunkirk is a powerful symbol of reindustrialization in France, against a backdrop of energy transition. It will play a crucial role in achieving the goal of producing two million electric cars in France by 2030. Benoit Lemaignan, co-founder and president of Verkor, said the financing would enable the company to become a European leader in battery manufacturing. The Gigafactory will also help meet the growing need for batteries for mobility and stationary storage. Verkor’s project is part of a wider energy transition strategy in Europe, aimed at reducing dependence on battery imports and developing a local supply chain. This initiative is supported by favorable government policies and partnerships with key industry players.

Verkor: a major player in the energy transition

Since its foundation in 2020, Verkor has rapidly established itself as a key player in Europe’s energy transition. By focusing on the production of low-carbon batteries, the company is helping to reduce CO2 emissions and promote renewable energies. The Dunkirk Gigafactory represents a strategic investment in the future of the French and European automotive industry. The start-up benefits from the support of numerous financial and industrial partners, strengthening its market position. By developing innovative technologies and increasing its production capacity, Verkor aims to meet the growing demand for batteries for electric vehicles and energy storage systems.

Future prospects

The construction of Verkor’s gigafactory in Dunkirk marks a crucial step in France’s reindustrialization and Europe’s energy transition. With a planned output of 16 GWh/year by 2025, the plant will contribute to the energy autonomy and competitiveness of the French automotive industry. Verkor is positioned as a leader in battery manufacturing, capable of meeting tomorrow’s technological and environmental challenges.
By collaborating with European partners and benefiting from substantial financial backing, Verkor is well placed to play a central role in the transformation of the battery industry. Continued investment and technological innovation will be essential to maintain this momentum and ensure a sustainable future for electric mobility.

Globeleq and African Rainbow Energy finalise financing for Africa's largest standalone battery energy storage project, raising ZAR 5.4 billion ($300 million) from Absa and Standard Bank in South Africa.
Matrix Renewables and Pioneer Community Energy have signed an energy capacity contract for a 22 MW battery storage project in Kern County, operational from early 2026.
The Ignitis Group is starting the construction of three battery energy storage systems in Lithuania, with a combined capacity of 291 MW and a total investment of €130mn.
Alinta Energy has appointed GenusPlus Group to build the first phase of the Reeves Plains Energy Hub Battery, a high-capacity storage facility designed to support grid stability in South Australia.
A partnership between Indonesia Battery and Contemporary Amperex Technology aims to launch a lithium-ion battery plant in Indonesia by the end of 2026, with a 6.9 gigawatt-hour capacity and planned expansion.
State Grid Wuzhong Power Supply Company announces the completion of the energy storage compartment at Tongli substation, a key step for the upcoming integration of a 300 MW shared storage power plant in Ningxia.
Globeleq and African Rainbow Energy finalise commercial agreements for a 153 MW energy storage project in South Africa, aimed at enhancing national grid stability and optimising peak energy management.
Estimated at 40.9 billion dollars in 2024, the global microgrid market is expected to grow at an average annual rate of 19.28% to reach 191.01 billion dollars by 2033, driven notably by innovative energy contracts.
The U.S. energy storage market set a historic record in early 2025, surpassing 2 GW installed in the first quarter despite increasing uncertainty regarding federal fiscal policies and tax credits.
The Sino-Moroccan joint venture COBCO has begun manufacturing essential lithium-ion battery components at its Jorf Lasfar plant, targeting a final annual capacity of 70 GWh, enough to equip one million electric vehicles.
Trianel teams with BKW and Luxcara to build a 900 MW lithium-iron-phosphate storage park in Waltrop, the first phase of a complex that could reach 1.5 GW and stabilise the German grid.
Blue Whale Energy partners with UNIGRID to deploy behind-the-meter storage systems adapted to constrained commercial and industrial urban areas in Southeast Asia.
Northvolt, recently placed under judicial administration, has received an indicative offer from a foreign investor to acquire its Swedish assets, signaling a potential imminent restart of its battery production units.
The frame agreement aligns Jinko ESS’s utility-scale storage technology with Metlen’s development pipeline, unlocking more than 3GWh across Chile and Europe while reducing delivery risk for grid operators.
Buffalo-based Viridi has obtained the cETLus mark for its RPS150 system, meeting the UL 9540 standard only days after a public battery fire-containment demonstration.
Tesla is building a giant electricity storage facility in Shanghai, China, signing a $560 million contract to meet growing demands on the urban electricity grid.
Envision Energy signs a turnkey contract with Kallista Energy for a 120 MW / 240 MWh energy storage project in Saleux, Hauts-de-France, marking its entry into France’s stationary battery market.
The Dubai-based company obtains a USD72mn loan to add a 300MWh battery system to its 500MW solar plant in Kom Ombo, with commissioning expected in July 2025.
Asian developer Gurīn Energy selected Saft to supply a battery storage system exceeding 1 GWh in Fukushima, marking a new stage in Japan’s energy storage deployment.
Chinese lithium-ion battery manufacturer CBAK Energy confirmed a $11.6mn order for LFP cylindrical batteries to power the electric motorcycle fleet of a rapidly growing African group.