(Il Sole 24 Ore Radiocor) - Milano, 10 apr - The Italian energy company Eni said it has agreed to invest 70 million US dollars in Nouveau Monde Graphite, a Canadian company operating in the natural graphite and advanced battery materials industry.

Eni's investment is part of a total capital increase of 297 million dollars. Alongside Eni, Canadian institutional investors Canada Growth Fund and Investissement Quebec are also subscribing to the capital increase, along with a public equity raise. Eni is expected to hold an 11.5% stake in NMG after completion of the capital increase and will hold a board seat.

The capital increase is aimed at supporting the development of the Matawinie Mine of high-quality natural graphite, a key feedstock for the battery sector as well as other high-margin industrial segments.

"The investment in NMG is consistent with Eni's strategy to diversify its supply chains. In particular, it enables Eni to enter the critical minerals value chain through a partnership with a leading company in the sector, while leveraging its distinctive technological know-how," Eni said. Eni noted that the deal will also provide it the opportunity to negotiate exclusive supply agreements for graphite and active anode material to support Eni's gigafactory initiative to produce stationary lithium batteries already underway in the industrial area of Brindisi.

NMG shares are listed on the Toronto and New York stock exchanges.

The transaction is subject to authorization by the annual general meeting of NGM shareholders to be held in the second half of May.

In addition, through this transaction, Eni will have the opportunity to negotiate exclusive supply agreements for graphite and active anode material. These will support Eni's Gigafactory initiative to produce stationary lithium batteries, already underway in the industrial area of.

Brindisi.

(RADIOCOR) 10-04-26 08:43:36 (0163) 5 NNNN