Up to €12 billion in public and private funding to go into “European Battery Innovation,” a project approved Tuesday by the European Commission.

Up to €12 billion in public and private funding to go into “European Battery Innovation,” a project approved Tuesday by the European Commission. With 42 companies enrolled in the project, almost €3 billion is to come from 12 EU countries and €9 billion from the private sector. Focusing on lithium-ion batteries for electric cars and batteries for power storage, “the project will cover the entire battery ecosystem, from raw material extraction, design and production of battery cells and blocks to recycling and disposal in a closed-loop economy,” reports Interfax-Ukraine.