Britishvolt has moved to secure a stable supply of anode and cathode active materials by signing a Memorandum of Understanding [MoU] with Posco Chemical – a leader in the provision of first class energy/battery materials.
The MoU, that is targeting a JDA, is intended to help provide Britishvolt with a supply that will support its requirements for pilot and volume production of advanced technology battery cells.
Orral Nadjari, Britishvolt Founder/CEO, said: “We’re delighted to be partnering with Posco Chemical, a world leader in its field. Our MoU with Posco paves the way to providing Britishvolt with a secure supply of active battery materials as we start to ramp up pilot production prior to switching to volume manufacture of battery cells at our Gigaplant facility in Northumberland, United Kingdom, in the coming years. This is perfectly aligned with our own strict ESG Principles & Commitments and underscores our business model of partnering early with the supply chain to ensure we can manufacture cells for customer requirements.”
The MoU also includes the provision for joint materials testing and European Union localisation, where practical.
POSCO Chemical President Min Kyung-zoon added: “The cooperation between Britishvolt, a pioneering battery cell developer and producer committed to creating environmentally friendly, low carbon, sustainable, lithium-ion batteries, and POSCO Chemical, which has a stable supply chain, will further enhance the competitiveness of both companies.”
Posco’s vertical integration strategy, with ownership of mines and processing facilities across the battery sector, ensures end-to-end, stable, supply chain supply – which aligns with Britishvolt’s strategy.
The Britishvolt-Posco Chemical MoU is the latest in a sequence recently signed by Britishvolt to support its requirements for high volume material supply for pilot and volume production of battery cells. More strategic partnerships are expected to be announced in coming weeks, all in-line with Britishvolt’s strict ESG Principles & Commitments.
Images courtesy of Britishvolt.