ElevenEs, a portfolio company of InnoEnergy and the developer of breakthrough battery technology for transportation (buses and trucks), energy storage, mining, and construction, is seriously considering an investment of nearly €600 million to build a battery cell factory in Poland. The project is scheduled to launch by the end of 2027 and would create at least 700 jobs.
The potential investment could be of strategic importance for Poland, offering an opportunity to stimulate growth across multiple sectors of the economy as well as regional development. It could also serve as a magnet to attract additional investors into a new industrial ecosystem in Poland.
The planned project in Poland is backed by a group of strategic partners, including InnoEnergy, known for its investments in sustainable energy innovation and currently one of the main shareholders of the Luxembourg-based company. ElevenEs has been actively building its business presence in Poland, holding discussions with a number of public and private entities that could become key stakeholders if the project moves forward.
According to Market Data Forecast, the global battery market will exceed USD 161 billion in 2025 (up from about USD 140 billion in 2024), with an expected compound annual growth rate of 16.75% between 2025 and 2033. This means that within eight years, global revenues from the battery industry will surpass half a trillion dollars. ElevenEs, headquartered in Luxembourg and operating production facilities in Serbia, is rapidly establishing itself as a strong player in this expanding market. The company’s latest product, the Edge574 battery, charges to 80% in just 12 minutes and offers an extended lifespan. Currently, ElevenEs is the only company in Europe with this level of technology.
Supported by international investors, including InnoEnergy, the company is preparing to take its next major step—building a gigafactory worth nearly €600 million, which would allow ElevenEs to move into serial and mass production. Poland is under serious consideration as the preferred location for this project.
Poland on the Roadmap
Construction of the new facility is expected to begin by the end of 2027, with the plant ultimately employing around 700 engineers. While the exact location has not yet been confirmed, southern Poland—Kraków, Silesia, or Lower Silesia—is being considered.
“The openness of the labor market, the availability of suppliers within the supply chain, the presence of many universities, and access to Western European markets are undeniable advantages of Poland. If we add potential public sector involvement, this makes Poland one of the most attractive investment destinations in Europe,” said Nemanja Mikac, founder and CEO of ElevenEs.
For Poland, the investment would mean more than just capital injection and new specialist jobs. It would bring technology transfer, opportunities for further innovation, and the chance to create a new deep-tech industrial ecosystem in the country.
“In terms of technology development, we are a clear leader in Europe, and one of the biggest advantages of our technology is its ability to integrate different industrial sectors and build an ecosystem of innovation around it,” Mikac added.
Strategic Partnerships for Poland
The company is being supported in its Polish expansion and fundraising efforts by InnoEnergy, which since 2010 has invested in more than 540 European technology companies and is now one of the main shareholders of ElevenEs.
“We specialize in connecting diverse groups of stakeholders. Our broad ecosystem includes financial and industrial investors, but also technology providers and research institutions. Our track record shows that we have the experience and ability to make large, complex investment projects succeed. We see enormous potential in the ElevenEs project—not only will it help build a strong and competitive Polish economy, but it will also allow Europe to finally make its mark with an exportable product in the global battery value chain. This is one of those projects that could truly change the rules of the game,” said Mikołaj Budzanowski, CEO of InnoEnergy Central Europe.
While highlighting the many benefits of ElevenEs’ potential investment, Budzanowski also emphasized the conditions necessary for the project to succeed.
“The potential for building an entire battery ecosystem in Poland and Europe is enormous. But the complexity of this project requires more than just financial and organizational commitment, as investor interest is already there. What will be decisive now is timing and the responsiveness of public authorities. Only with active and supportive engagement from public institutions, decision-makers, and financial organizations can a project of such strategic importance for Poland and Europe become a reality,” Budzanowski noted.
According to InnoEnergy’s CEO for Central Europe, the ElevenEs investment could ignite innovation in Poland’s battery sector and foster the growth of a wider ecosystem of innovative companies. This is fully justified, given that LFP cells—specialty of ElevenEs—have already become the main growth driver for the global battery market and are powering a new wave of more efficient and affordable electromobility.
Source: CEO.com.pl
