- he EIB will provide technical and financial advice for progressing the company’s project in A Coruña, Spain, for producing synthetic graphite, used for electric car batteries and energy storage.
- The EIB Advisory services will be delivered through the EU Innovation Fund’s business advisory programme.
The European Investment Bank (EIB), through its EIB Advisory services, has signed an agreement with Resonac Graphite Spain, a leading company for graphite electrode production, to deliver advice regarding the structuring and financing of its project to produce graphite for batteries.
This project, which the company is carrying out at its facility in A Coruña, Spain, aims to produce sustainable graphite for battery anodes used in electric vehicles and energy storage. To achieve this, it will use an innovative process that will reduce the carbon footprint by up to 90% compared to imported graphite.
Once the commercial phase is up and running, the plant will help reduce CO2 emissions, lessen the EU's dependence on imported synthetic graphite, and strengthen Europe's energy autonomy.
Graphite is an essential component of batteries for electric vehicles and energy storage, which in turn are vital for increasing the electrification of the economy and the energy transition.
The advisory services that the EIB will provide to Resonac Graphite Spain will focus on advancing the project’s technical and financial maturity to improve its implementation opportunities and access to financing. It will also provide market analysis and an assessment of the project’s scaling and replicability options. This consulting is provided through EIB Advisory and is made possible by the EU Innovation Fund’s business advisory program. The Innovation Fund is the EU’s fund for climate policy, focusing on energy and industry.