Italian utility Eni and battery storage company Seri Industrial have announced the creation of FAENIX, a new company dedicated to the commercial and technological development of Europe’s lithium iron phosphate (LFP) stationary battery supply chain (Seri Industrial press release, 13/07/2026).
“FAENIX positions itself as a European commercial platform focused primarily on utility-scale Battery Energy Storage Systems (BESS) based on lithium iron phosphate (LFP) technology, supporting large scale renewable energy plants, grid stability, as well as Commercial & Industrial and residential energy storage applications” said the statement.
FAENIX will commercialise products manufactured at the integrated Teverola Brindisi industrial platform in Italy, where construction has recently started on the Eni Storage Systems facilities, including the BESS assembly line and the Gigafactory. Once fully operational, these facilities are expected to reach a combined production capacity of 16 GWh per year, representing more than 10% of the European stationary BESS market.
The project was first announced in May 2026. Eni owns 30% of the new company, while Seri holds the remaining 70%.