Verkor, a leading French battery manufacturer, has successfully secured over 1.3 billion euros in green financing to support the construction of its first battery cell Gigafactory in Dunkirk. This landmark funding, sourced from a consortium of 19 banking entities, marks a significant milestone in Verkor’s mission to produce low-carbon, high-performance batteries for the European automotive and energy storage sectors.
The Gigafactory, operational by 2025, is expected to create approximately 1,200 direct and 3,000 indirect jobs over the next two years. This facility will position Verkor as a critical player in the mobility and stationary storage markets, contributing to Europe’s industrial sovereignty in electric mobility and energy storage.
Verkor’s CEO, Benoit Lemaignan, expressed pride in securing substantial financing, stating, “We are proud to secure 1.3 billion euros to further develop our ambitions. This debt financing will enable us to finalize the construction of our Gigafactory, which will produce its first low-carbon battery cells in 2025. We are also delighted that this financing takes the form of an unprecedented ‘green loan.'”
The green loan has received the “Dark Green” rating from Standard & Poor’s, the highest possible rating for a green loan, underscoring the environmental quality of Verkor’s project. The Gigafactory aims to produce batteries with one of the smallest environmental footprints globally, aligning with the broader goals of reducing carbon emissions and promoting sustainable industrial practices.
Dr. Velibor Marjanovic, a Member of the Management Board of KfW IPEX-Bank and one of the key contributors to the financing, highlighted the significance of the project: “We are very proud to contribute to the expansion of this pioneering landmark project for the future market of battery cell production. With our participation in this financing, we are once again underlining our commitment to projects that contribute to the transformation to a CO2-neutral future.”
The financing consortium’s support reflects a robust financial ecosystem backing Verkor’s growth and the broader transition to sustainable energy solutions. The Gigafactory’s development is a critical step towards meeting the increasing demand for electric vehicles and energy storage systems in Europe, fostering innovation and sustainability in the battery manufacturing industry.
About Verkor
Verkor is a French company dedicated to accelerating the production of low-carbon batteries for electric vehicles and energy storage. Founded in 2020, Verkor aims to support the transition to sustainable energy through innovative battery solutions and strategic partnerships.
