Eni Invests $70 Million in NMG to Strengthen Graphite Supply Chain

Eni S.p.A. E announced an equity investment of $70 million in a Canadian company, Nouveau Monde Graphite Inc. NMG. This is part of a larger $297 million fundraising initiative, involving investments from major Canadian institutional investors such as the Canada Growth Fund and Investissement Québec, alongside funds raised from the public.Eni’s stake in NMG will be around 11.5%, accompanied by a seat on the board, upon completion of the transaction. Eni will also gain the opportunity to secure exclusive supply agreements for graphite and active anode material.Final approval for the transaction is subject to NMG’s annual general meeting to be held in the second half of May 2026.The investment aligns with Eni’s strategy to diversify supply chains, enabling entry into the critical minerals space through a partnership while leveraging its technological expertise. It will also secure supply for its Brindisi-based gigafactory in Italy, which focuses on stationary lithium-ion batteries.Meanwhile, through this transaction, NMG will develop the Matawinie mine, which produces high-quality natural graphite, an important material used in lithium-ion batteries and other high-margin industrial segments. The raw graphite will then be processed and refined into battery-ready material at NMG’s Bécancour Battery Material Plantin Quebec.E currently sports a Zacks Rank #1 (Strong Buy), while NMG has a Zacks Rank #3 (Hold).Some other top-ranked stocks in the energy sector are Chevron Corporation CVX and BP plc BP. CVX and BP each sport a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.Like Eni, Chevron and BP have a presence in upstream operations and are currently enjoying a favorable business environment as West Texas Intermediate crude prices are trading above $100 per barrel, which is significantly higher than the $61.05 per barrel recorded a year ago, per data from oilprice.com.Quantum Computing Stocks Set To SoarArtificial intelligence has already reshaped the investment landscape, and its convergence with quantum computing could lead to the most significant wealth-building opportunities of our time.Today, you have a chance to position your portfolio at the forefront of this technological revolution. In our urgent special report, Beyond AI: The Quantum Leap in Computing Power, you'll discover the little-known stocks we believe will win the quantum computing race and deliver massive gains to early investors.Access the Report Free Now >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks