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The company will use the fresh funds to open an R&D plant in France to develop sustainable cells. Marketing boss Anna Teyssot said Verkor will raise over $1 billion to build its first factory. See more stories on Insider's business page.", "slideCount": 10, "companyName": "Verkor Battery", "description": "Electric-vehicle battery maker Verkor has raised €100 million ($118.6 million) from Renault and EQT. The company will use the fresh funds to open an R&D plant in France to develop sustainable cells. Marketing boss Anna Teyssot said Verkor will raise over $1 billion to build its first factory. See more stories on Insider's business page. A French startup that plans to build a battery factory to service some of the world's biggest automotive brands has raised €100 million ($118.6 million). Grenoble-based Verkor;; which was founded a year ago;; raised the funds in a round that was co-led by auto giant Renault and venture-capital firm EQT Ventures. The fresh funds will be used to open an research and development plant in France that will develop high-performance lithium-ion cells;; a crucial element of electric vehicles. Verkor is part of a raft of battery startups that have drawn huge funding in recent months. Governments across the world are pushing to end the reliance on internal-combustion engines in order to help meet their emissions targets. Sweden's Northvolt;; which was founded by a former Tesla exec and counts Volkswagen among its backers;; raised $2.75 billion last month. Elsewhere;; the Estonian battery tech firm Skeleton Technologies raised €70.4 million. Investors are pouring capital into the industry as traditional car brands prepare to switch the bulk of their lineups to electric. Verkor's new funds come as Renault agreed to a memorandum of understanding with the startup. As part of the agreement;; the pair will develop and manufacture batteries for Renault's electric cars as well as its premium Alpine models. Anna Teyssot;; Verkor's chief marketing officer;; said that while Verkor made a deal with Renault;; the French automaker will not be its only client. \"We are also talking to other customers;; and it is very clear we will serve other customers than Renault in the long term;;\" she told Insider. \"We're talking to car manufactures but also more heavy-duty applications such as trucks and buses. These kinds of markets are also of interest.\" Verkor plans to open its first battery plant in 2024 with a capacity of around 16 gigawatt-hours;; before eventually increasing that to over 50 GWh by 2030;; which could be the equivalent of around 500;;000 batteries a year. While the French startup has just secured fresh funding;; Teyssot said that much more will be needed in order to build the plant. Teyssot said the company will look to raise more than €1 billion before the construction of the plant in a mix of debt and equity. 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"canonId": "019dd956-6c00-70cd-bd42-6bacc4af726f", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Context (Trends) -> The Trigger Event -> The Window of Opportunity", "description": "Create temporal urgency by proving that the window of opportunity is opening or closing", "familyLabel": null }, "matchId": "09bf4f9f-ee82-4a3e-aa2b-40fc9c536e93", "evidence": "The loop is implicit, with the problem statement on page 3 and the call to action on page 10: 'LET'S BUILD TOGETHER THESE SMART & LOW CARBON BATTERY GIGAFACTORIES'", "position": 0, "objective": "Why now is the right time to invest in Verkor", "confidence": 0.7, "extraction": { "at": "2026-07-17 03:18:38.383192+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true } ], "arcBeats": [ { "from": 3, "to": 3, "label": "Problem", "description": "The problem is stated on page 3: 'EUROPEAN GIGAFACTORIES CAN'T MEET DEMAND'" 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