San Donato Milanese (Milan), 10 April 2026 - Eni announces an equity investment in Nouveau Monde Graphite (“NMG”), a Canadian company listed on the Toronto Stock Exchange and the New York Stock Exchange, operating in the natural graphite and advanced battery materials industry.
The transaction involves an investment by Eni of US$ 70 million, as part of a total capital increase of US$ 297 million. Alongside Eni, the capital increase has been subscribed to by two major Canadian institutional investors, Canada Growth Fund and Investissement Québec (financial investors backed respectively by the Government of Canada and the Government of Québec), as well as through a public equity raise.
Following the completion of the capital increase, Eni is expected to hold a stake corresponding to around 11,5% of NMG’s share capital and will have a Board seat.
The capital increase is aimed at supporting the development of the Matawinie Mine of high-quality natural graphite, a key feedstock for the battery sector, as well as other high-margin industrial segments. The Matawinie Mine forms the asset base for a vertically integrated project of natural graphite extraction and its refining at NMG’s Bécancour Battery Material Plant.
The investment in NMG is consistent with Eni’s strategy to diversify its supply chains. In particular, it enables Eni to enter the critical minerals value chain through a partnership with a leading company in the sector, while leveraging its distinctive technological know-how.
In addition, through this transaction, Eni will have the opportunity to negotiate exclusive supply agreements for graphite and active anode material. These will support Eni’s Gigafactory initiative to produce stationary lithium batteries, already underway in the industrial area of Brindisi.
The transaction is subject to authorization by NMG’s AGM to be held in second half of May 2026.
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