ElevenEs Secures Funding from Caterpillar Venture Capital for 1GWh LFP Battery Factory in Serbia
ElevenEs has completed its Series B investment round with backing from Caterpillar Venture Capital, Inc., and BST (HK) Ltd. The funds will support the construction of a 1GWh LFP Battery Cell Mega Factory in Serbia, set to begin in February 2026, with first battery cell deliveries expected in 2027. The factory aims to enhance European battery manufacturing and will employ over 350 people.
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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.
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