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Eni announces the closing of the equity investment in Nouveau Monde Graphite Inc., a Canadian company listed on the Toronto Stock Exchange and the New York Stock Exchange, operating in the natural graphite and advanced battery materials industry. Eni has subscribed for an investment of US$70 million, as part of a total US$309.5 million capital investment from private investors and the public.
Following the approval of private placement by the shareholders of NMG and the closing of the transaction earlier today, Eni holds a stake corresponding to around 11.6% of NMG’s share capital and has the right to appoint a representative to NMG’s Board.
The investment in NMG, announced last April, is consistent with Eni’s strategy to diversify its supply chains. In particular, it enables Eni to enter the critical minerals value chain through a partnership with a leading company in the sector, while leveraging its distinctive technological know-how. In addition, through this transaction, Eni will be able to negotiate the supply of graphite and active anode material volumes committed by NMG, thereby also supporting Eni’s Gigafactory initiative to produce stationary lithium batteries in the industrial area of Brindisi.
Note: This story has not been edited by The Polymerupdate Editorial team and is auto-generated from a syndicated feed.
