Italian energy company Eni announced a strategic investment in Canadian Nouveau Monde Graphite (NMG), aiming to strengthen its presence in the critical minerals value chain linked to the battery sector.
The operation involves an injection of 70 million dollars as part of a total capital increase of 297 million. With this participation, Eni will acquire approximately 11.5% of the company’s share capital and obtain a seat on its Board of Directors.
Boosting the Development of Natural Graphite for Batteries
On the one hand, the financing will accelerate the development of the Matawinie mine, a key deposit for high-quality natural graphite production. This material is essential for manufacturing anodes in lithium-ion batteries and other energy storage systems.
Furthermore, the project is part of an integrated model that encompasses both the extraction and transformation of graphite into advanced materials. Specifically, NMG also operates a processing plant in Bécancour, focused on producing components for batteries.
Eni’s Strategy in Critical Minerals
Moreover, this investment aligns with Eni’s diversification strategy, focused on securing access to essential raw materials for the energy transition. Graphite has become one of the most in-demand resources due to its role in storage technologies.
Additionally, the Italian company will be able to negotiate long-term supply agreements for graphite and anode active material. These inputs will be allocated to its gigafactory project in Brindisi, where the production of stationary lithium batteries is already underway.
Institutional Participation and Next Steps
The capital increase also has the backing of important Canadian institutional investors, including Canada Growth Fund and Investissement Québec, which strengthens the project’s financial robustness.
Finally, the operation is subject to approval by NMG shareholders, expected in the second half of May 2026. If finalized, it will mark a significant step in consolidating industrial alliances around the supply of battery materials.
Source: Eni
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