Britishvolt Signs Materials MOU With Posco Chemical
Britishvolt recently signed an agreement with Posco Chemical Co. Ltd., a provider of energy/battery materials, to secure a stable supply of anode and cathode active materials. The MoU is one of a number of agreements recently signed by Britishvolt to meet its demand for high volume material supply for pilot and large-scale production of battery cells, which will be announced in the coming weeks.
“We’re delighted to be partnering with Posco Chemical, a world leader in its field.” said Orral Nadjari, Britishvolt Founder/CEO. “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.”
Anodes and cathodes work by reversibly storing and releasing electrical energy through the movement of lithium ions. The capacity and efficiency of a battery is determined by the surface area of the anode and cathode. A secure supply of materials for both of these components is extremely important for anybody trying to produce batteries at scale. If you want to sell in volume to entities like automotive manufacturers or energy storage companies, they’ll want to see that you can deliver the goods.
Posco Chemical will provide a wide range of anode and cathode active materials to Britishvolt, which will be used in the development of high-performance, sustainable batteries for a variety of applications including electric vehicles (EVs), grid storage, and consumer electronics.
Materials testing abilities and the potential for better European Union localization 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, sustainable, lithium-ion batteries, and POSCO Chemical, which has a stable supply chain, will further enhance the competitiveness of both companies.” said POSCO Chemical President Min Kyung-zoon. “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.”
Both parties are working to execute a Joint Development Agreement to create a framework for longer term cooperation and opportunities. According to Britishvolt, Posco’s “100 percent vertical integration” aligns perfectly with Britishvolt’s own goals.
While there are plenty of rare earth elements and other materials needed for battery production in the Earth’s crust, getting them out and processing them is the bigger challenge. In most cases, it involves a lot of energy and water usage, as well as chemicals that can be harmful to the environment. Investing in doing 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 reduce costs and keep supplies moving.
As industries relying on a good battery supply expand, deals like this one are going to underpin the biggest EV and renewables news this decade. So, while the details may seem boring, it’s still an essential part of making the transition happen.
Featured image provided by Britishvolt.
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