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Another day another monster raise for an EV battery company.<\/p>\n
This time it\u2019s Verkor<\/a>, the Renault-backed french battery builder, which said on Thursday that it secured \u201cmore than \u20ac2 billion\u201d \u2014 roughly $2.1 billion USD \u2014 to speed up construction of its Dunkirk gigafactory<\/a>. Verkor produces pouch and cylindrical battery modules for electric vehicles and energy-storage sites.<\/p>\n The huge sum includes an \u20ac850 million Series C funding round as well as \u20ac600 million in loans from the EU\u2019s European Investment Bank, Verkor explained in a statement<\/a>. The $2.15 billion figure also counts \u20ac650 million in yet-to-be-approved French subsides, pending a final OK from the European Commission.<\/p>\n Australian asset manager Macquarie, French infrastructure investor Meridiam and Renault participated in the Series C, among other investors. Verkor claimed it\u2019s the \u201clargest equity raise\u201d to date for a French startup, though at this size the company is clearly taking some liberties with its use of the term \u201cstartup.\u201d<\/p>\n In the same statement, the company quoted President Emmanuel Macron, who called the deal a \u201cbold sign of our ambition for reindustrialisation.\u201d<\/p>\n Other recent noteworthy deals for battery firms include Ascend Elements\u2019 $542 million raise<\/a> and Lyten\u2019s $200 million round<\/a>.<\/p>\n<\/p><\/div>\n