The latter is to supply the lithium for further processing in the factory and invest an unknown amount in Green Lithium. Part of the investment will also be financed through a grant: Last year, Green Lithium had received a grant of £631,000 from the Advanced Propulsion Centre to produce battery-grade lithium hydroxide in the UK.
At that time, however, there were hardly any concrete details about the project. That is now different: construction of the factory is due to begin next year, with production targeted to start in 2024. In 2026, the factory is to reach full capacity and produce 50,000 tonnes of battery-grade lithium products for European electric vehicle and battery manufacturers. However, the exact location is still not known.
What is clear with the new agreement is that Trafigura, a metal trader based in Singapore, will supply the unprocessed raw material to Green Lithium. Where and in what form the lithium will be mined beforehand is not known.
“This landmark project has the potential to revolutionise the European supply chain for EV production and sustainable energy storage at this critical time in the energy transition,” says Socrates Economou, Global Head of Battery Metals at Trafigura.