Britishvolt signs Materials Memorandum of Understanding with Posco Chemical
Britishvolt recently signed an agreement with Posco Chemical Co. Ltd., an energy/battery materials supplier, to ensure a stable supply of active anode and cathode materials. The MoU is one of several recently signed by Britishvolt to meet its request for high volume material supply for pilot and large scale production of battery cells, which will be announced in the coming weeks. .
“We are delighted to partner with Posco Chemical, a world leader in its field.” said Orral Nadjari, founder/CEO of Britishvolt. “Our Memorandum of Understanding with Posco paves the way for Britishvolt to be provided with a secure supply of active battery materials as we begin to ramp up pilot production before moving to mass manufacture of battery cells at our factory. Gigaplant in Northumberland, UK in the coming years.”
Anodes and cathodes work by reversibly storing and releasing electrical energy through the movement of lithium ions. The capacity and efficiency of a battery are determined by the area of the anode and the cathode. A secure supply of materials for these two components is extremely important for anyone trying to produce batteries on a large scale. If you want to sell in volume to entities such as car manufacturers or energy storage companies, they will want to see that you can deliver the goods.
Posco Chemical will supply a wide range of active anode and cathode materials to Britishvolt, which will be used in the development of long-lasting, high performance batteries for a variety of applications including electric vehicles (EVs), grid storage and power. consumer electronics.
Materials testing capabilities and the potential for better localization in the European Union were important reasons for signing the agreement.
“The cooperation between Britishvolt, a pioneering battery cell developer and producer committed to creating environmentally friendly, low-carbon and long-lasting lithium-ion batteries, and POSCO Chemical, which has a chain of stable supply, will further enhance the competitiveness of the two companies. said POSCO Chemical President Min Kyung-zoon. “The Britishvolt-Posco Chemical MoU is the latest in a sequence recently signed by Britishvolt to meet its high-volume material supply requirements for pilot and volume production of battery cells. Further strategic partnerships are expected to be announced in the coming weeks, all of which comply with Britishvolt’s strict ESG principles and commitments.
The two parties are working on executing a joint development agreement to create a framework for longer-term cooperation and opportunity. According to Britishvolt, Posco’s “100% vertical integration” aligns perfectly with Britishvolt’s own objectives.
Although there are many rare earth elements and other materials needed for battery production in the earth’s crust, extracting and processing them is the biggest challenge. In most cases, this involves a large consumption of energy and water, as well as chemicals which can be harmful to the environment. Investing to do all of this safely and in a way that isn’t too destructive can be very expensive, so companies are always looking for ways to cut costs and keep the supply moving.
As industries that rely on a good supply of batteries grow, deals like this will underpin some of the biggest electric vehicle and renewable energy news of this decade. So while the details might seem boring, it’s still a critical part of making the transition happen.
Featured image provided by Britishvolt.
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