ElevenEs is considering building a Gigafactory for advanced battery cells in Poland

According to Market Data Forecast, the global battery market is expected to reach over USD 161 billion in 2025 (up from around USD 140 billion in 2024), with a projected average annual growth rate (CAGR) of 16.75% from 2025 to 2033. This means that in eight years, global industry revenues could exceed half a trillion USD.

ElevenEs is successfully building its position in this vast and promising market. The company, registered in Luxembourg, operates production facilities in Serbia and is backed by global investors. ElevenEs is revolutionizing the battery market, including batteries intended for the electric vehicle industry – its latest product, the Edge574 blade battery cell, charges up to 80% in just 12 minutes and boasts a long lifespan. As of now, ElevenEs is the only company in Europe that possesses such technology.

LFP Edge574 Blade Battery Cell

The company, now backed by a group of international investors including the InnoEnergy fund, is preparing to take the next major step in its development: the construction of a €600 million gigafactory, enabling a seamless transition to full-scale mass production. ElevenEs is seriously considering  Poland as the preferred location for its future investment.

Poland on the Roadmap

The manufacturing facility is planned to start  construction  by the end of 2027 and will eventually employ 700 engineers. The exact location has not yet been finalized, but it is speculated that it will be in southern Poland: Kraków, Silesia, or Lower Silesia.

“An open labor market, availability of suppliers within the supply chain, presence of many universities, and access to Western European markets – these are undeniable advantages of Poland. If we add potential public sector involvement to this, we have one of the most attractive places for investment in Europe.” says Nemanja Mikać, founder and CEO of ElevenEs.

For Poland, the ElevenEs potential investment means more than just a capital boost and new specialist jobs. It also represents technology transfer and the opportunity to further develop it within the domestic economy. This is also an opportunity for the emergence of a new deep-tech industrial ecosystem in Poland.

“From a technology development standpoint, we are a clear leader in Europe. One of the most significant benefits of our technology is its ability to integrate different industrial sectors and build an innovation ecosystem around it,” adds Mikac.

Strategic partnerships for Poland

In introducing the company to Poland and securing additional investors, ElevenEs is being supported by InnoEnergy, which since its founding in 2010 has invested in over 540 European tech companies and is now one of the main shareholders of ElevenEs.

“We specialize in connecting different stakeholder groups. Our broad ecosystem includes financial and industrial investors, as well as technology providers, research institutions, and academic centers. The projects we’ve completed demonstrate our experience and ability to execute large, complex investment ventures. We see enormous potential in the ElevenEs project – not only will it help build a strong, competitive Polish economy, but it may also allow Europe to finally establish a significant presence in the global battery value chain. This is one of those projects that could change the rules of the game” – summarizes Mikołaj Budzanowski, CEO of InnoEnergy for Central Europe.

While listing the many benefits of ElevenEs’ potential investment, Budzanowski also notes the necessary conditions for the project to succeed.

“The potential to build an entire battery ecosystem in Poland and Europe is huge. But at the same time, the project’s complexity requires not only significant financial and organizational commitment – because there are already investors willing to support it. The success of this investment will now depend critically on the timing and decisiveness of the public sector. This means that only with the active and supportive engagement of public entities, policymakers, and financial institutions can such a strategically important project for Poland and Europe become a reality.” – adds Budzanowski.

Budzanowski also emphasizes that the ElevenEs investment could kickstart innovation in Poland’s battery sector and serve as a catalyst for the development of the domestic battery industry as well as the entire ecosystem of innovative companies surrounding this investment. This is fully justified, as ElevenEs’ analysis shows that LFP cells, which the company specializes in, already are   and trigger a new wave of e-mobility – more efficient and more affordable than ever before.

• ElevenEs, a portfolio company of InnoEnergy and the developer of a technology set to revolutionize the battery market in the bus & truck segment, energy storage, mining and construction , is  seriously considering  investing nearly €600 million in the construction of a battery cell factory in Poland. The project is scheduled to start by the end of 2027 and is expected to employ at least 700 people.
• This new potential investment would be of strategic importance for Poland and presents an opportunity for the development of many sectors of the Polish economy, as well as regional growth. It could also serve as a magnet for attracting additional investors to the emerging industrial ecosystem in Poland.
• The new ElevenEs project in Poland is supported by a group of strategic partners. The investment will be carried out with the active involvement of InnoEnergy, known for its investments in sustainable energy innovations and currently one of the main shareholders of the Luxembourg-based company.
• ElevenEs is active in business development activities in Poland and has held multiple discussions with a number of Polish public and private entities that could serve as major stakeholders in the project if it moves forward.