Global giant enters ElevenEs – Construction of battery megafactory on 25,000 m2 begins in Subotica

ElevenEs has completed the first closing of its Series B investment round, backed by Caterpillar Venture Capital, Inc., a wholly owned subsidiary of Caterpillar Inc. Caterpillar, as announced, is the world’s leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Additionally, an affiliate of BST (HK) Ltd. a leading Hong Kong-based commodity trading house, participated in the round.

– This transaction represents a significant milestone in the future of European battery manufacturing as the proceeds will be used for the initial phases of infrastructure and equipment toward the planned 1GWh Mega-Factory, with construction starting in February 2026 – the press release says.

The first battery cell deliveries are expected in 2027.

– ElevenEs is scaling its proprietary Lithium Iron Phosphate (LFP) Edge battery technology to meet the rigorous performance demands of industrial vehicles and equipment in mining, construction, rail and marine segments, in addition to battery electric vehicles (BEVs), buses, trucks and battery energy storage systems (BESS). The collaboration with Caterpillar strengthens ElevenEs’ mission to deliver robust, reliable battery solutions for customers worldwide – they add.

After completing its industrial pilot battery manufacturing plant in 2023, ElevenEs will transition from pilot operations to mass-scale production, specializing in high-performance LFP blade prismatic cells. The new factory complex will feature nearly 25,000 square meters of state-of-the-art production facilities.

The ElevenEs’ project is building a high-tech ecosystem in Serbia that will employ more than 350 people, significantly increasing its existing team of over 110 international experts.

– In a crucial moment for the European battery industry, the investment from Caterpillar will support ElevenEs in its steps to advance LFP technology, expand global presence, scale operations to a 1GWh production facility, and position its European market leadership – said Nemanja Mikac, Founder and CEO of ElevenEs.

ElevenEs d.o.o. Subotica

ElevenEs

Caterpillar Venture Capital

Nemanja Mikać

megafactory of LFP batteries

construction

ElevenEs factory of LFP batteries Subotica