Seri Industrial Spa, (BIT: SERI) the Italian group of companies that produces plastic materials and is a leader in Italy in the design and production of lead and lithium-ion batteries (FAAM Spa, Monterubbiano, Italy), has agreed to a 20 million euro loan with UniCredit.
The bank’s financing will go towards starting the new production plant in Teverola, in the province of Caserta, Italy. The project, called “Teverola1 – Lithium Project”, will create the first Italian site for the production of lithium cells and batteries (with lithium-iron-phosphate technology) as part of the re-industrialization program of the former Whirlpool plant.
The start of cell production is scheduled for spring 2021.
