FREYR and Talga sign MOU for supply of battery anode materials.
Battery anode company Talga Group Ltd (“Talga” or “the Company”) (ASX:TLG) announced it has signed a Memorandum of Understanding (“MOU”) regarding supply of Talga’s Swedish active anode materials (Talnode®) for FREYR’s battery cell production under development in Norway.
Background
Talga and FREYR are committed to jointly test and potentially develop large scale, sustainable and competitive solutions to help accelerate the development of local Nordic supply chains for production of clean, low-cost batteries.
Agreement and Term
Under the MOU, Talga and FREYR will work towards the commercial supply of Talga’s Talnode® range of anode materials for FREYR’s planned operations, including customer qualification plant, 5-11 GWh production ramp up and subsequent 32 GWh Giga-factory.
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The parties intend discussing binding long term supply agreements as well as other business models, including licensing of Talga anode technologies or Joint Ventures.
The agreement also includes studies into potential operational synergies such as Talga co-locating operations within FREYR’s production facilities for the scale-up of new anode materials and technologies at industrial level for battery manufacturing.
The MOU is non-binding and for a term of 2 years, in which the intent is to execute formally binding agreements as required. The agreement may be terminated by either party on 30 days’ notice.
Mark Thompson, Talga Managing Director said:
We are very pleased to be working with FREYR to explore the use of our world-leading graphite and silicon anode materials and technology in their sustainable, high-performance battery cells.
“Additionally, we are pleased to discuss potential synergies towards strengthening our respective strategic positions in the global electric vehicle battery supply chain.”
Tom Einar Jensen, CEO of FREYR, commented:
Developing a local supply of battery materials made with renewable energy under strong ethical and governance frameworks is a key element of FREYR’s strategy.
“By combining next-generation cell design and production technology with Norway’s low-cost renewable energy, and by unlocking sustainable localized supply chains enabled by companies such as Talga, FREYR is moving closer to realizing our ambition of producing large volumes of low-cost battery cells with one of the lowest carbon contents in the world.”
FREYR and Talga sign MOU for supply of battery anode materials, June 22, 2021
