Eni has completed the 70 million dollar investment in Nouveau Monde Graphite (Nmg), a Canadian company specialized in the production of natural graphite and advanced battery materials. The operation was announced at the beginning of April, but the purchase was completed only in the last few days.
The operation closely affects the Gigafactory project in the industrial area of Brindisi; the purchase marks the entry of the Italian energy group into the critical minerals chain.
The details of the operation
The 70 million dollar subscription is part of an overall capital increase of 309.5 million dollars, in which two important Canadian institutional investors also participate:
- Canada Growth Fund;
- Investissement Quebec.
Following the completion of the transaction, Eni now holds a share of approximately 11.6% of the share capital of Nmg, a company listed on both the Toronto Stock Exchange and the New York Stock Exchange. The group will also have the right to have its own representative on the company’s board of directors, thus strengthening its presence in the sector.
Because graphite is strategic for Eni
Natural graphite is one of the fundamental materials for the production of lithium ion batteries, in particular for the production of anodes. With the growing global demand for energy storage and electric vehicles, securing safe and diversified supplies of this critical mineral has become a priority objective for large energy players.
Nmg is active on projects that include:
- the Matawinie mine, in Quebec, for the extraction of high-quality natural graphite;
- the Bécancour Battery Material Plant for its refining and transformation into active anode material.
Two projects that Eni will now be able to exploit directly. Thanks to the agreement, Claudio Descalzi’s group will be able to negotiate the supply of reserved volumes of graphite and active anode material, ensuring dedicated supplies at preferential conditions.
The Brindisi knot
But this acquisition affects Brindisi very closely. As the group writes in a note:
Eni will be able to negotiate the supply of volumes of graphite and active anode material reserved for it by Nmg, also to support its initiative relating to the construction of a Gigafactory for the production of stationary lithium batteries in the industrial area of Brindisi.
The plant is designed to respond to the growing demand for energy storage systems, essential to support the spread of renewable sources.
The announcement of the finalization of the investment has already received positive comments from the Brindisi Democratic Party. The city secretary and municipal councilor Francesco Cannalire declared:
Our political task now is to continue to monitor with attention and a constructive spirit, because we want this transition to take place within certain times and guarantee maximum protection for all the workers and related companies involved. Brindisi needs real opportunities and sustainable development.
The numbers of the project are considerable, with 800 million euros of total investment and around 1,300 jobs between direct and induced employment. The start of work on the Gigafactory is imminent, in June 2026.
