The French start-up Verkor, specializing in the manufacturing of electric batteries, has just obtained historic funding of 2 billion euros, historic for French Tech. It will set up its gigafactory in Dunkirk.
Verkor announced, Thursday September 14, the largest fundraising ever recorded by a member of French Tech. The company specializing in the manufacture of electric batteries has formalized colossal financing of 2 billion euros, which will allow, once the agreement of the European Commission is given, the construction of the Dunkirk gigafactory. One more in France, which will console itself with the (temporary) failure of the Tesla mega factory.
An operational gigafactory by 2025
This is a major step for French industry, employment and decarbonization which has just been achieved. The Verkor gigafactory, which is expected to be operational by 2025 if all deadlines are met, will play a vital role in the transition to more sustainable mobility, by providing low-carbon batteries.
In addition to the manufacturing of low-carbon and so-called “high-performance” battery cells, the funds will support the development of new manufacturing technologies at the Verkor Innovation Center, to develop new cutting-edge products.
Verkor has received support from financial partners (Macquarie Asset Management and Meridiam), and the European Investment Bank (EIB) has also approved a support program of 600 million euros, a sum which is part of this envelope of 2 billion euros, in the form of project financing debt. A sign which in any case shows that Europe believes in this project.
Emmanuel Macron welcomes the initiative
The start-up will also benefit from French subsidies as part of the France 2030 plan, for innovation in advanced manufacturing techniques, particularly recycling. Initially, they will be developed at the Verkor Innovation Center, located in Dunkirk, before being scaled up in the gigafactory.
The President of the Republic, Emmanuel Macron, welcomed a “ new historic fundraising for French Tech, with the support of France 2030 resources » The head of state also mentions a “ bold sign of our reindustrialization ambition », praising the joint efforts of France and Europe. Let’s hope this is just the beginning for the French industry.
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