SK On signs partnership agreement with POSCO Holdings

SK On and Posco Holdings have entered a strategic partnership which is intended to mitigate global supply chain disruptions and strengthen expanding business operations. Both companies plan to collaborate closely on a range of issues. Joint working groups will focus on global expansion of operations, raw materials investment, creation of cathode development roadmap, expansion of anode supplies and the establishing of a waste battery collection network.

The partnership aligns with the two firms’ recent and significant growth. In March, Posco Holdings began construction of a lithium production facility in Argentina and invested in Taiwanese solid-battery producer ProLogium in May. It also established…

 

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Honda and Sony confirm Joint Venture to produce electric vehicles

Honda and Sony have now confirmed they are entering into a Joint Venture (JV) to produce electric vehicles. The pair plan to utilise Honda’s long-standing expertise in the vehicle development and manufacturing arena, alongside its mobility safety and after-sales service management capabilities. This, combined with primarily technological developments from Sony, is intended to allow the pair to “engage in the sale of high-value-added electric vehicles”.

Aiming for the more premium end of the EV spectrum is a common theme among OEMs and, with Honda’s current base of affordable mass market cars, this JV may be needed to target…

 

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Energy Transition Finance Tracker – May 2022

Below is Rho Motion’s Energy Transition Finance Tracker, for May 2022. We track energy transition related companies going public through IPO or a merger with a SPAC, in order to provide a monthly update on market status.

A comprehensive version of our Energy Transition Capital Tracker is published every month on our Membership Platform. Click here to enquire about Membership.

 

 

Johnson Matthey sells its battery material assets in Canada and Europe

Battery technology developer Nano One, has agreed a deal to acquire 100% of Johnson Matthey Battery Materials (JMBM) Canadian entity based in Candiac, Quebec for approximately USD8 million. JMBM Canada includes a 2,400 tonne per annum capacity LFP production facility occupying approximately one tenth of the 400,000 square foot property. The transaction is expected to complete by the end of 2022.

Meanwhile JMBM also announced the sale of part of its Battery Materials business to EV Metals Group, a global battery chemicals and technology business, for approximately USD63 million. Johnson Matthey will also receive a minority equity stake in EV Metals Group, with the deal expected to be complete in summer 2022.

 

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Freyr confirms ESS offtake agreement with Powin

Freyr confirmed that it has signed a 28.5 GWh battery cell offtake agreement with Powin that will run from 2024 to 2030. The cells will be supplied initially from its plant in Rana, Norway, and later from it’s planned US Gigafactory.

According to the company the conditional offtake agreement with Powin brings FREYR’s cumulative offtake volumes to 78.8 GWh, representing more than 67% of the projected nameplate capacity of FREYR’s planned combined Gigafactory 1 & 2 at Mo i Rana and more than 90% of targeted production under current ramp-up and operational efficiency assumptions. We understand that 19 GWh of this is with Honeywell, and a further 31 GWh with…

 

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Glencore and Li-Cycle announce battery recycling partnership

Glencore announced the establishment of a strategic partnership with Li-Cycle Holdings. Glencore will subscribe for convertible debt in Li-Cycle and Li-Cycle will become a preferred partner for Glencore in the lithium-ion battery recycling sector.

The partnership will entail Glencore procuring feedstock for Li-Cycle Spoke facilities and black mass for Li-Cycle’s Hub facilities; offtake of black mass from Li-Cycle’s Spoke facilities; offtake of battery usable end products produced by Li-Cycle; offtake of by-products from Li-Cycle’s facilities; and supplying Li-Cycle’s sulfuric acid requirements for its Hub facilities.

The partnership with Li-Cycle will support…

 

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