EU, Serbia to support ElevenEs in battery cell manufacturing expansion

At the EU–Western Balkans Investment Forum in Tirana, Serbian company ElevenEs signed a joint declaration of support with representatives of the European Commission and the Development Agency of Serbia, marking a major step toward expanding battery cell manufacturing in the region.

ElevenEs CEO Nemanja Mikać signed the document in the presence of European Commission President Ursula von der Leyen. The joint declaration of support recognizes the company’s battery manufacturing expansion as a project aligned with the European Green Deal and Global Gateway strategy. The initiative highlights ElevenEs’s role in supporting the European Union’s decarbonization goals across the energy, transport, and industrial sectors.

The signing ceremony took place on the first day of the inaugural EU–Western Balkans Investment Forum, which is supported by the European Commission and aims to enhance economic cooperation and investment opportunities between European Union member states and Western Balkan partners.

“Signing this joint declaration of support with the European Commission and the Serbian Development Agency is an important recognition of the quality of the prismatic LFP blade cells battery we produce, and ElevenEs’s upcoming contribution to the EU’s decarbonization efforts, and the economic and industrial development across the region”, Mikać said.

With a EUR 700 million investment in two phases, ElevenEs will create roughly 1,000 jobs in Serbia

Mikać said the Western Balkans have the potential to become a key location for Europe’s energy storage industry, emphasizing that his company’s technological expertise and commitment to innovation demonstrate the region’s capability to be a reliable partner for the EU’s battery supply chain.

With an investment of EUR 700 million planned in two phases, ElevenEs aims to establish Serbia and the Western Balkans as a key hub for LFP (lithium-iron-phosphate) battery cell production, creating around 1,000 new jobs. The company’s LFP blade cells are designed to meet Europe’s growing demand for batteries used in electric vehicles and stationary energy storage systems.

Founded in 2022 as a spin-out from Al Pack Group, ElevenEs is building Europe’s first LFP gigafactory in Subotica. The company leverages three decades of electrode manufacturing expertise to produce long-lasting, cost-efficient batteries that support the continent’s clean energy transition.

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September 15, 2025

by AEA in News

ElevenEs mulls building advanced battery cells gigafactory in Poland

Battery technology developer ElevenEs, which has production facilities in Serbia, plans to build a EUR 600 million gigafactory. It revealed that it is considering locations in Poland. The company said InnoEnergy is now one of its main shareholders.

Now backed by a group of international investors including the InnoEnergy fund, ElevenEs announced its next major step. The company registered in Luxembourg said it is “seriously considering Poland” for its planned investment: a EUR 600 million gigafactory for advanced battery cells.

The battery technology developer, which operates production facilities in Serbia, has unveiled its latest product in May. It said the Edge574 blade cell charges up to 80% in 12 minutes. The cycle life translates to a range of at least 500,000 kilometers for electric cars, ElevenEs’ update reads. The company specializes in lithium iron phosphate (LFP) technology.

“ElevenEs is revolutionizing the battery market, including batteries intended for the electric vehicle industry,” according to its statement on the gigafactory project.

The company aims to begin construction by the end of 2027 and eventually employ 700 engineers.

Company shortlists Kraków, Silesia, Lower Silesia

ElevenEs hasn’t determined the exact location, but it hinted it would be in southern Poland: Kraków, Silesia or Lower Silesia. The country would benefit from technology transfer and the opportunity to further develop it within the domestic economy, it stressed.

ElevenEs’ CEO Nemanja Mikać praised the Polish labor market, supply chain and access to Western European markets

An open labor market, availability of suppliers within the supply chain, presence of many universities, and access to Western European markets are all undeniable advantages of Poland, said founder and Chief Executive Officer of ElevenEs Nemanja Mikać.

“If we add potential public sector involvement to this, we have one of the most attractive places for investment in Europe… From a technology development standpoint, we are a clear leader in Europe. One of the most significant benefits of our technology is its ability to integrate different industrial sectors and build an innovation ecosystem around it,” he stated.

InnoEnergy becomes one of main shareholders of ElevenEs

In introducing the company to Poland and securing additional investors, ElevenEs is being supported by InnoEnergy. Since its founding in 2010, it has invested in over 540 European tech companies. InnoEnergy is now one of the main shareholders of ElevenEs.

“We specialize in connecting different stakeholder groups. Our broad ecosystem includes financial and industrial investors, as well as technology providers, research institutions, and academic centers. The projects we’ve completed demonstrate our experience and ability to execute large, complex investment ventures. We see enormous potential in the ElevenEs project – not only will it help build a strong, competitive Polish economy, but it may also allow Europe to finally establish a significant presence in the global battery value chain. This is one of those projects that could change the rules of the game,” said Mikołaj Budzanowski, CEO of InnoEnergy for Central Europe.

There are investors willing to support the project, but the success of the investment depends critically on the timing and decisiveness of the public sector, he explained. He also highlighted the necessary role of financial institutions.

Serbia in scope for mass production

Of note, Mikać recently said that ElevenEs would “localize and scale” LFP battery production in Serbia over the next seven or eight years. It could become the first country in Europe to launch mass production, he added.

The company wants to participate in creating a robust supply chain in Serbia and Central and Eastern Europe, but also potentially across the continent, he asserted.

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