Our Impact

Verkor, France


Verkor is a French company founded in 2020 aiming at developing, financing, building and operating a 16 GWh battery gigafactory project in Dunkirk, France (“GF1”) and becoming a European leader in low-carbon battery production.

Meridiam has closed its investment in the Company in September 2023. Meridiam has strong co controlling rights and has a 13% equity stake in Verkor with preferential liquidation shares.
Meridiam has positioned itself as a co-controlling investor in Verkor, leveraging its experience in the EVmarket, its project finance expertise and its ability to partner with public authorities.

This investment will allow to project finance the construction of a 16GWh gigafactory in Dunkirk (in northern France) for which:

  • A 10-year offtake securing 75% of Verkor GF1’s sales is provided by Renault following joint development work and formal validation of the company’s battery technology.
  • Significant public support is being provided to back the project:
  • A €659m subsidy from the French government
  • Debt guarantees and financing of €1.1bn from public entities


Commercial Close GF1 under construction

ESG/SDG Key facts:

Battery manufacturing is an energy and materials intensive industry. Verkor has an integrated approach leveraging the low-carbon energy available at the location of the plant thanks to nuclear electricity as well as fatal heat from neighbouring industries. The materials sourcing is also a key feature of this industrial process for which Verkor has been implementing a strategy to limit the risks related to raw materials extraction, with a stringent control of suppliers and dedicated scrap recycling capabilities.

Part of the battery valley &

mobility sector electrification

16 GW gigafactory

in France

c. 4,200 long term

qualified employment opportunities
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