Eni To Acquire 11.5% Stake In Canadian Company

2026-04-10 03:02:56

(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 10. Italy's energy major Eni has announced a strategic equity investment in Nouveau Monde Graphite (NMG), a Canadian company listed on the Toronto Stock Exchange and the New York Stock Exchange and active in the natural graphite and advanced battery materials sector, Trend reports via Eni.

The transaction involves an investment by Eni of $70 million, as part of a broader capital increase totaling $297 million.

Alongside Eni, the capital raise has been subscribed to by major Canadian institutional investors, including Canada Growth Fund and Investissement Québec, backed by the governments of Canada and Québec respectively, as well as through a public equity offering.

Following completion of the transaction, Eni is expected to hold approximately 11.5% of NMG's share capital and will secure a seat on the company's Board of Directors.

The funds will support the development of the Matawinie Mine, a key project focused on high-quality natural graphite, a critical input for the battery industry and other high-margin industrial applications.

Matawinie forms part of NMG's vertically integrated platform, which includes graphite extraction and downstream processing at its Bécancour Battery Material Plant.

The investment aligns with Eni's broader strategy to diversify its supply chains and expand into the critical minerals segment.

“The investment enables Eni to enter the critical minerals value chain through a partnership with a leading player in the sector, while leveraging its distinctive technological know-how,” the company said.

Additionally, the deal provides Eni with the option to negotiate exclusive supply agreements for graphite and active anode materials, supporting its gigafactory initiative for stationary lithium battery production currently under development in the Brindisi industrial area.

The transaction remains subject to approval by NMG shareholders at the company's Annual General Meeting scheduled for the second half of May 2026.

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