SERI - FAAM Overview Sept 2020 - Legambiente

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SERI - FAAM Overview Sept 2020 - Legambiente
SERI - FAAM Overview
       Sept 2020
SERI - FAAM Overview Sept 2020 - Legambiente
Group Structure
                                                                                       SBU                            ACTIVITY
                                                                                   SERI PLAST         Production and recycling of plastic
                                                                                                      material
                                                                                                      ▪ Production of special compounds for
                                                                                                        the moudling of boxes and lids for
                                                                                                        electric accumulators

                                                                                                      ▪ Production of special compounds for
                                                                                                        the automotive

                                                                                                      ▪ Production of special compounds for
                                                                                                        the moulding and extrusion of pipes
                                                                                                        and fittings for the thermo-hydro
                                                                                                        sanitary market

                                                                                        FIB           Electric Accumulators
                                                                                                      ▪ Production and recycling of lead-acid
                                                                                                        and li-ion batteries for motive power,
                                                                                                        storage, starter and special applications

                                                                                                      ▪ Design and construction of plants for
                                                                                                        the recycling of exhausted batteries

                                                                                                      ▪ FAAM is carrying out R&D activities
                                                                                                        through FAAM Research Center

    SERI Industrial is a listed company on the MTA. The mission is to accelerate the energetic transition to sustainability and
                    decarbonization, controlling the supply chain of electric accumulators and plastic material
SERI - FAAM Overview Sept 2020 - Legambiente
Shareholders and highlights
     Highlights                                                               Shareholder Base

             765
           Employees

                                                                                                      Industrial S.p.A. 62,60%

         200 M€ Revenues                                                                              Neuberger Berman AIFM
                                                                                                      17,09%

             14 plants                                                                                Market 20,31%
          3 R&D centers
         9 operating sites

             Seri Industrial is controlled by Industrial, owned by the Civitillo family (founders of SERI)
SERI - FAAM Overview Sept 2020 - Legambiente
Milestones
                          Acquisition of Plastam and        Exide Technologies French        SERI Group acquires Teverola       IPCEI Project for 505 M€
SERI establishment
                           ICS – for the moulding of            and Spanish plastic            complex from Whirlpool                  investment
                            plastic components for              moulding activities             Corporation to start up      Start up of activities in Poland
                                    batteries                       acquisition                lithium cells production          (plastic business unit)
                                                                                            Reverse merger with Krenergy,      Start up phase of Teverola
                          IMI Fondi Chiusi SGR enters
                                                                                             a company listed on the MTA       production plant for li-ion
                           in the share capital of Seri
                                                                                            Joint Venture in Argentina for              batteries
                                                                                                      the supply of           Acquisition of COES Company
                                                                                                   lithium carbonate         production of pipes and fittings

              Start up of SERI PLANT                                             Acquisition of Lithops by     Rights Issue in July 2018 for
                                                Acquisition of FAAM – a
           Division – turnkey plants for                                         FAAM, an R&D company            Seri Industrial – to fund
                                                leading company in the
            the recycling of exhausted                                         active in the development of       development projects
                                             production of lead-acid and
                     batteries              li-ion batteries for industrial,        innovative li-on cells
                                                                                                                 Invitalia Determina for
                                                  storage and starter           Upstream integration with       55M€ investment (Lithium
            Start up of PP compounds                  applications             the acquisition of Repiombo,
               production from the                                                                                       Project)
                                                                                   a smelter active in the
              recycling of exhausted
                                                                                  recycling of exhausted
                     batteries
                                                                                         batteries

  ESTABLISHMENT                                        M&A                                       CONSOLIDATION AND GROWTH
SERI - FAAM Overview Sept 2020 - Legambiente
Footprint
PRODUCT

                     Moulding of plastic   PP Compounds                         Smelter
 RANGE

           Plants                                         Lead Acid Batteries             Lithium batteries
                       components

                                            INDUSTRIAL FOOTPRINT

 PLASTIC MATERIAL

 ELECTRIC ACCUMULATORS
SERI - FAAM Overview Sept 2020 - Legambiente
Circular Economy – lead acid
SERI - FAAM Overview Sept 2020 - Legambiente
LITHIUM PROJECT
SERI - FAAM Overview Sept 2020 - Legambiente
Circular Economy: Lithium
                                                SUPPLY OF LITHIUM CARBONATE (JV)

                                                  ACTIVE MATERIAL PRODUCTION

                            LITHIUM SEGMENT
                                                        CELL PRODUCTION

                                              PRODUCTION AND SALE OF MODULES AND
                                                         BATTERY PACK

                                              RECYCLING OF EXHAUSTED ACCUMULATORS
                                                 AND RECOVERY OF ACTIVE MATERIAL
SERI - FAAM Overview Sept 2020 - Legambiente
Teverola Plant – present and future
                     TEVEROLA 1                                          TEVEROLA 2
Start up: I Q 2021                                            Project timesheet: 2021-2027
            37.000 sqm indoor                                             42.000 sqm indoor
Capacity: First step 300 MWh                                  Capacity: 2,5/3 GWh at the end of the
Technology: Gen 1 LFP soft pouch (gen 2                       R&D&I project
                                               280.000 sqm
availability too)                                             Technology: Gen 3b and 4 (solid state)
                                                of complex
55 M€ Investments                              area (80.000   505 M€ of public grant(Capex and Opex)
Applications: Motive Power, ESS, Public          indoor -     50 ton/day of battery treatment in the
transport, Naval and Defense                     scalable)    recycling pilot line
Joint Venture in Argentina for the supply of                  Applications: mainly Automotive and
lithium carbonate                                             storage
Ability to adapt the chemistry used in the                    Partnership with European players along
realization of the cell (e.g. Automotive)                     the supply chain
SERI - FAAM Overview Sept 2020 - Legambiente
IPCEI
                          IMPORTANT PROJECTS OF COMMON EUROPEAN INTEREST

FAAM project has been approved for the production of beyond the state of the art li-ion cells and recycling of
                                         end-life li-ion batteries

       The grant for FAAM project is 505 M€ on an overall grant of 570 M€ for the Italian Consortium
A mediterrean Gigafactory

Asian Manufacturers (mass markets)
European Manufacturers                      Skelleftea, 2021

Salzgitter, 2024

        Erfurt, 2022

    Willstät, 2020                       Poland, 2023

                                         Wroclaw, 2021
    France, 2022
                                         Komarom, 2020
                                         Berlin, 2023

                   Teverola, 2020-2023
Technology roadmap – Teverola 1

                                                 Achievements

Production of soft pouch cells based on generation 1 and 2a technology for industrial, storage and special
application (2a generation cells)                                                    Gen
                                                                                       2b
                                                                                            Cathode: NCM532 to NCM622
                                                                                                 Anode: 100 % Carbon
In Teverola Plant, FAAM is focused on the production 40 Ah pouch battery cells
based on gen 1 technology, suitable for industrial applications, ESS and niche
markets
                                                        Gen
                                                         2a
                                                                 Cathode: NCM111
In addition, Teverola can produce gen 2a/2b cells,               Anode: 100 % Carbon
suitable for Automotive applications

                       Gen
                        1
                                  Cathode: LFP, NCA
                                  Anode: 100 % Carbon
Technology roadmap – Teverola 2

                                                    Achievements

TEVEROLA 2 will be focused on the production of generation 3a and 3b                                       Gen
                                                                                                            5
The R&D phase will be carried out between the end of 2020- 2022 and the mass                                     Li/O2 (lithium-air)
production and commercialization by the end of 2022/start of 2023
                                                                     Gen
                                                                      4    All-solid-state with Li metal
The next step – generation 4 – will be industrialized                                 anode;
                                                                           Conversion materials (Li/S)
on 2026
                                      Gen
                                      3b
                                            Cathode:HE-NCM, HVS
                                             Anode: Silicon/carbon

 Gen
  3a
       Cathode: NMC622 to NMC811
         Anode: Carbon + Si (5-10%)
R&D Projects on next-gen materials since 2012
            CATHODE                       ANODE            ALL-SOLID-STATE
•   High-V spinels           •   Si/C composites   •   Polymer electrolyte
•   Li-rich layered oxides
•   Ni-rich NMC
•   Hybrid power-energy

                                                                SAFETY
                                                   •   Gas production from cells
                                                       during standard operation or
                                                       abuse
                                                   •   Self-healing

                                                            BAT4EVER
IPCEI Targets - sustainability
One of the objective of FAAM project is to implement the “green footprint” of the production processes by
eliminating toxic solvents and by reducing the CO2 equivalent produced by the li-ion cells and modules
production

FAAM project will reduce the energy required for those process by developing with its industrial equipment
manufacturer partners more efficient solutions such as (but not limited to) reversible formation system and
steam based coating equipment

In addition FAAM is currently trying to work as much as possible with local European Suppliers to reduce the
global CO2 impact by limiting material and equipment transportations. Through the project and collaborations
between EU players, the strategy will be more concrete
FAAM aim is to develop and industrialize a solid state lithium-ion cell with
generation 3b or higher innovative active materials, improving current
technologies performance characteristics, cost and green footprint.

FAAM targets to develop water-based formulations for both electrodes (cathode and anode), increasing the
safety and reducing the environmental impact of the production processes, in particular
                      Anode                                                     Cathode
FAAM has a long experience, having developed             Water-based application to cathode materials has
water-base formulations for all the products that        several challenges due to instability of the most of
are going to be produced in its plants                   those products in aqueous environment
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