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ElevenEs has secured funding from Caterpillar Venture Capital, Inc. and BST (HK) Ltd. for its Series B investment round. The investment will facilitate the construction of a 1GWh LFP Battery Cell Mega Factory in Subotica, Serbia, commencing in February 2026.

The factory is expected to produce its first battery cells in 2027 and is part of a broader strategy to advance lithium iron phosphate battery technology for various industrial applications. The facility will cover nearly 25,000 square meters and employ over 350 individuals, expanding ElevenEs' capacity for mass-scale production following its pilot operations in 2023.