EUR 500m Fund Launched to Power Europe's Battery Revolution

• EIT InnoEnergy and Demeter Investment Managers launch a €500m fund to invest in battery raw materials production, meeting the growing demand for electric vehicle batteries in Europe.

Dutch sustainable energy innovation engine EIT InnoEnergy and private equity investor Demeter Investment Managers have launched a €500m ($543.9m) fund to invest in projects focused on battery raw materials production. The fund, called the EBA Strategic Battery Materials Fund, aims to meet the increasing demand for batteries for electric vehicles and grid storage in Europe and develop a resilient and diverse battery raw material supply chain. The fund will primarily invest in strategic battery materials such as lithium, nickel, cobalt, manganese, and graphite, with at least 70% of investments dedicated to increasing domestic production in the European Union and neighbouring countries.

Demeter will act as the fund manager, while Societe Generale will be the exclusive financial advisor for capital raising. The remaining 30% of investments will target the increase in raw material supply from EU Raw Material Partnership countries, including Canada, Namibia, and Argentina. The launch of the fund took place during the 54th Annual Meeting of The World Economic Forum in Davos, Switzerland.

What is the purpose of the EBA Strategic Battery Materials Fund?

The purpose of the EBA Strategic Battery Materials Fund is to:

• Invest in projects focused on battery raw materials production
• Meet the increasing demand for batteries for electric vehicles and grid storage in Europe
• Develop a resilient and diverse battery raw material supply chain
• Primarily invest in strategic battery materials such as lithium, nickel, cobalt, manganese, and graphite
• Allocate at least 70% of investments to increasing domestic production in the European Union and neighbouring countries
• Act as a fund manager for Demeter Investment Managers
• Serve as the exclusive financial advisor for capital raising for Societe Generale
• Target the increase in raw material supply from EU Raw Material Partnership countries, including Canada, Namibia, and Argentina
• Launch during the 54th Annual Meeting of The World Economic Forum in Davos, Switzerland.