Eni has closed a $70 million equity investment in Nouveau Monde Graphite, acquiring an 11.6% stake and board representation, as part of a $309.5 million capital raise from private and public investors, securing graphite and anode material supply for Eni’s Brindisi gigafactory.
Eni has announced the closing of its equity investment in Nouveau Monde Graphite Inc. (NMG), a Canadian company listed on the Toronto Stock Exchange and the New York Stock Exchange, operating in natural graphite and advanced battery materials, according to official disclosures.
Eni subscribed for US$70 million as part of a total US$309.5 million capital investment from private investors (Eni, Canada Growth Fund, Investissement Québec) and public sources. Following shareholder approval of the private placement, Eni holds approximately 11.6% of NMG’s share capital and has the right to appoint a representative to NMG’s board.
This development matters because the investment enables Eni to enter the critical minerals value chain and secure supply of graphite and active anode material volumes committed by NMG, supporting Eni’s gigafactory initiative to produce stationary lithium batteries in Brindisi, Italy.
The transaction aligns with Eni’s strategy to diversify supply chains and leverage its technological know-how in partnership with a leading battery materials company. Industries impacted include lithium-ion battery manufacturing, natural graphite mining, and stationary energy storage.
Regional stakeholders include Quebec’s mining sector, Italy’s Brindisi industrial area, and electric vehicle supply chains.
For investors, Eni’s vertical integration into upstream graphite reduces raw material dependency for its downstream battery production. The investment also signals continued Western interest in building non-China critical mineral supply chains for battery materials.
Eni is an Italian multinational energy company headquartered in Rome, engaged in oil, gas, and renewable energy.
Nouveau Monde Graphite is a Canadian mining and advanced battery materials company based in Québec, focused on natural graphite production for lithium-ion batteries.
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