by Alicia Bennett | May 11, 2023 | Battery Chemistry & Production
On 9 May 2023, EVE Energy announced that the company has signed a sales agreement with a subsidiary of the Debrecen government to purchase land in the industrial zone in the northwest of Debrecen. EVE Energy will build a battery plant here to manufacture cylindrical EV batteries. According to the contract, EVE Energy will pay EUR12.8 million for 45 hectares of land. Péter Szijjártó, Minister of Foreign Affairs and Trade, announced that the total investment will be around HUF400 billion (~USD1.2 billion).
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by Alicia Bennett | May 11, 2023 | Uncategorised
US-based Livent and Australian company Allkem have signed a merging transaction agreement to form the fifth largest lithium chemicals company in the world, with a combined valuation of USD10.6 billion. Both companies will naturally share infrastructure and resource pilots that will be consolidated and streamlined to ensure capex savings and efficiency gains. Specifically, the joint press release states annual opex savings of USD125 million pre-tax, as well as achieving a one-time capex saving of USD200 million through the merger. Allkem operates predominantly out of Argentina and Australia, with the former location in Olaroz being situated relatively near to Livent’s Hombre Muerto lithium brine operation. Both companies also have assts in close proximity in Canada which will also be optimised as part of the merger.
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by Alicia Bennett | May 9, 2023 | Joint Venture & Acquisition
Global commodity trading and mining company Glencore and industry-leading battery recycling company Li-Cycle have signed a Letter of Intent (LOI) to jointly study the potential construction of a European lithium-ion battery recycling hub in Italy. The project would involve the repurposing of an existing Glencore lead-zinc and metallurgical facility in Portovesme, Sardinia, maximising existing infrastructure, port access and utilities and in turn reducing capital expenditure. The Hub is expected to process between 50,000-70,000 tonnes of black mass per year, likely to be supplied from Li-Cycle’s expanding Spoke network in Europe, in order to produce recycled battery-grade lithium, nickel and cobalt. This would be the largest source of recycled battery-grade products in Europe.
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by Louis | May 5, 2023 | Battery Chemistry & Production
Croatian battery and powertrain component manufacturer Rimac Technology has announced it will enter the energy storage market through the launch of Rimac Energy; a power storage and megawatt charger manufacturer. Rimac Technology belongs to the wider Rimac Group under which Rimac Automobil and now Rimac Energy operate. Having previously focused on manufacturing batteries, converters and other EV-related systems for its own group and other OEMs, Rimac Energy will broaden the group’s product offering to include utility scale energy storage systems, commercial and industrial storage products as well as fast-charging megawatt chargers exclusively in Europe. The new energy storage company’s products will be based on a novel architecture to be revealed later this year, and will be designed, developed and manufactured at the group’s new campus in Croatia. Pilot projects are planned for commissioning in 2024 and mass production targeted for 2025, with Rimac Energy then intending to scale to over…
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Image credit: Rimac Technology
by Alicia Bennett | May 4, 2023 | Battery Chemistry & Production
Taiwan Semiconductor Manufacturing Co. (TSMC) is currently in talks with multiple partners for the construction of a microchip fabrication plant (fab) in Saxony, Germany. The current partners involved in the talks include TSMC, NXP semiconductors, Robert Bosch and Infineon, with EC officials also present. The joint venture is said to require a total investment of around USD11 billion, of which a large percentage will possibly originate from EU subsidies under the 2023 Chip Act. Enacted in April, the USD47 billion EU Chip Act aims to help the EU achieve its target of doubling its semiconductor production market share to 20% by 2030. By onshoring chip production, the EU plans to bounce back from supply chain complications as a result of Covid-19, as well as protect against geopolitical risks associated with China, where the vast majority of chip production is located.
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Image credit: Adobe Stock
