History

The Seri Group was founded in 1999 based on the entrepreneurial vision of the Civitillo family, with the aim of promoting Italian expertise in industrial design applied to sustainability. Between 2001 and 2002, SERI Plant began designing and building plants for the recovery of end-of-life batteries, and SERI Plast began producing compounds made from polypropylene regenerated from end-of-life batteries.

Between 2010 and 2012, the Group made a significant leap in size with the acquisition of Plastam and ICS, starting the molding of plastic boxes and lids for batteries, thus enhancing the value of the recycled granulate produced internally. During the same period, the COES plants began manufacturing technical pipes and fittings for the plumbing and heating sector. During these years, IMI Fondi Chiusi acquired a stake in the company and Seri Industrial S.p.A. was formally established.

In 2013, FAAM joined the Group, marking its entry into the energy storage and lead and lithium battery recycling sector. The integration of Lithops in 2015, a lithium cell research and development center based in Turin, further strengthened the Group’s innovative vocation.

In 2017, the Development Agreement was signed for the conversion of the former Indesit site in Teverola, marking the start of the Lithium – Teverola 1 Project for the production of lithium-ion cells, modules, and batteries. In the same year, Seri Industrial was transferred to Krenegry, a company already listed on the MTA market of the Italian Stock Exchange, thus beginning its history as a listed industrial group.

In 2018, the Litio – Teverola 1 Project took shape, which will give rise to the first Italian plant for the industrial production of LFP cells, with an installed capacity of 0.3 GWh and an investment of approximately €70 million.

Between 2019 and 2023, Seri Industrial entered a phase of operational expansion and strategic positioning at European level. In 2019, the Teverola 1 pilot plant is completed, starting industrial-scale production of lithium cells, modules, and batteries with an annual capacity of 0.3 GWh: it is the first example in Europe of Lithium Iron Phosphate (LFP) cell production. During the same period, the Group presented the IPCEI – Teverola 2 Project, aimed at building Italy’s first Gigafactory for the production of LFP cells, with an expected capacity of 8 GWh and a plant based entirely on proprietary technologies. In 2022, the Teverola 2 project receives official approval from the European Commission under IPCEI Batteries II, marking full recognition of the strategic value of the initiative at the continental level.

In 2021, Seri Industrial signed a joint venture agreement with Unilever to create an industrial plant dedicated to the recovery of plastic polymers from post-consumer packaging. The project took shape under the name P2P – Plastics to Polymers, and represents a circular economy model integrated into the Group’s core business.

In 2023, a new production hub was launched in Poland, dedicated to the production of plastic boxes and lids for batteries, expanding the Group’s industrial capacity abroad and consolidating its presence on the European market.

In 2024, the Group completes the ramp-up of the Teverola 1 site, with stable and optimized production, and begins investments for the construction of the Teverola 2 Gigafactory, entering into strategic agreements with major European players in the energy and industrial sectors.

Also in 2024, the Group completes the acquisition of 98% of Menarini S.p.A. (formerly Industria Italiana Autobus), relaunching a historic Italian public transport brand with a vision focused on electrification and the vertical integration of batteries developed by FAAM.

During the same year, the Group obtains €150 million in financing, guaranteed by a leading banking pool with SACE support, for the expansion of the Teverola 2 Gigafactory. The transaction represents an important recognition of the Group’s industrial and financial strength, as well as an accelerator in the construction of Italy’s first Gigafactory for the production of lithium cells and batteries.

During the same year, the Group obtained a €150 million loan, guaranteed by a leading banking pool with SACE support, for the expansion of the Teverola 2 Gigafactory. The transaction represents an important recognition of the Group’s industrial and financial strength, as well as an accelerator in the construction of Italy’s first Gigafactory for the production of lithium cells and batteries.

In recent years, Seri Industrial has progressively consolidated an integrated industrial model, in which each Group company contributes to generating circular value along the entire production chain. From the regeneration of plastics with Seri Plast, to the production of sustainable cells and batteries with FAAM, to direct use in Menarini vehicles, the Group promotes a vision in which research, industry, and sustainability are not separate compartments, but complementary parts of a solid, interconnected ecosystem ready to respond to the challenges of the energy transition.