Panasonic Energy signs MOU regarding offtake agreement with canada’s NMG on procurement of anode active materials for EV lithium-ion batteries.
Panasonic Energy Co., Ltd., a Panasonic Group Company, announced the signing of an MOU regarding an offtake agreement with integrated graphite producer Nouveau Monde Graphite Inc. (“NMG”; Quebec, Canada) to establish a supply chain in North America for graphite, an anode active material used in lithium-ion batteries.
The two parties will work alongside Mitsui & Co., Ltd. (“Mitsui”; Tokyo, Japan), NMG’s convertible bond underwriter to optimize a feasibility study for the development of an integrated graphite production business in North America carried out with the aim of concluding an offtake agreement by the end of March 2023.
The shift to electric vehicles (EV) is continuing on a global scale. Panasonic Energy is working to expand its production of EV batteries in the U.S. to meet increased demand and in the process will increase the percentage of materials procured locally and establish a sustainable supply chain. The strategic partnership between Panasonic Energy, NMG, and Mitsui aims to promote integrated “mineto-battery-materials” business development in North America and will see the refining of graphite mined at NMG’s Matawinie Mine (Quebec) and anode active materials produced at its battery materials plant in Bécancour, Quebec. Under the joint feasibility study, NMG will develop production facilities and material samples, and Panasonic Energy will evaluate them.
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In Canada, where the use of clean energy is widespread, a high percentage of electricity is derived
from renewable energy sources, and both the federal and provincial governments are promoting clean operations. Panasonic Energy shares a common understanding with the Canadian government on the importance of solving environmental issues, and we look forward to further expanding our partnership.
Being able to utilize NMG’s low environmental impact graphite is a major step toward our goal of halving our carbon footprint by FY2031. Sourcing materials for battery production in the U.S. from Canada will also shorten supply chain distances and significantly reduce CO2 emissions in the logistics process.
With our superior technology and extensive experience in battery development and manufacturing, we will continue to drive the growth of the lithium-ion battery industry and accelerate our efforts to achieve zero emissions through our strong partnership with NMG. This will bring us closer to our goal of realizing a society where the pursuit of happiness and a sustainable environment are in complete harmony.
About Panasonic Energy Co., Ltd.
Panasonic Energy Co., Ltd., established in April 2022 as part of the Panasonic Group’s switch to an operating company system, provides innovative battery technology-based products and solutions globally. Through its automotive lithium-ion batteries, storage battery systems and dry batteries, the company brings safe, reliable, and convenient power to a broad range of business areas, from mobility and social infrastructure to medical and consumer products.
Panasonic Energy is committed to contributing to a society that realizes happiness and environmental sustainability, and through its business activities the Company aims to address societal issues while taking the lead on environmental initiatives. For more details, please visit https://www.panasonic.com/global/energy/
About the Panasonic Group
A global leader in developing innovative technologies and solutions for wide-ranging applications in the consumer electronics, housing, automotive, industry, communications, and energy sectors
worldwide, the Panasonic Group switched to an operating company system on April 1, 2022 with
Panasonic Holdings Corporation serving as a holding company and eight companies positioned under its umbrella.
Founded in 1918, the Group is committed to enhancing the well-being of people and society and conducts its businesses based on founding principles applied to generate new value and offer sustainable solutions for today’s world. The Group reported consolidated net sales of 7,388.8 billion yen for the year ended March 31, 2022.
Devoted to improving the well-being of people, the Panasonic Group is united in providing superior products and services to help you Live Your Best. To learn more about the Panasonic Group, please visit: https://holdings.panasonic/global/
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Panasonic Energy Signs MOU regarding Offtake Agreement with Canada’s NMG on Procurement of Anode Active Materials for EV Lithium-Ion Batteries, Osaka, Japan, October 20, 2022
