Vulcan Energy, Renault sign battery-grade lithium supply deal
Category: #business  By Pankaj Singh  Date: 2021-11-23
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Vulcan Energy, Renault sign battery-grade lithium supply deal

Australian lithium developer, Vulcan Energy has unveiled its recent partnership with French automaker Renault, SA. The move marks as the second deal over lithium supply between the two parties.

The agreement comes after an anticipated surge in demand urging supply of battery-grade lithium from Vulcan’s project in Germany.

As a part of the deal, Vulcan will provide a consistent supply of somewhere between 26,000 to 32,000 metric tonnes of lithium battery material to Renault for a span of six-years.

Vulcan Energy, which is a prominent player tapping into the space of advanced direct lithium extraction (DLE) technique that requires less ground or land water, had made its first agreement with Renault in August.

The deal entailed an annual supply of 6,000 to 17,000 metric tonnes of battery material to Renault starting 2026 from the brine deposits located in Germany.

Vulcan has been actively navigating its partners worldwide and has already secured lithium material supply deals with major players such as Stellantis NV, a Netherlands-based automotive manufacturer, South Korea’s LG Chem, and Umicore, which is a Belgian recycler and material technology company.

Reportedly, the second supply agreement between Renault and Vulcan is set to commence commercial delivery in 2026 as per the deal.

Apparently, Vulcan Energy is on a mission to leverage the booming electric vehicle industry which relies heavily on lithium battery materials.

Lithium ion batteries are gaining momentum amidst the rapidly transitioning focus on sustainable and cleaner forms of energy.

Vulcan Energy’s partnership with major automotive player is in line with its greater goal to decarbonize transition towards electric motility.

The company looks forward to using its Zero Carbon Lithium™ business for renewable energy and EV battery companies. Vulcan is also mobilizing its geothermal and lithium brine resource to reach its aim to develop the world’s first battery-quality lithium chemicals with net-zero carbon footprint

Source Credits: https://energy.economictimes.indiatimes.com/news/power/vulcan-energy-inks-second-lithium-supply-deal-with-renault/87838640

 

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Pankaj Singh    

Pankaj Singh

With an experience as an insurance underwriter and a freelance writer under his belt, Pankaj Singh boasts of quite some expertise in the field of content creation. A qualified Post Graduate in Management, Pankaj has also completed a detailed course in Digital Marketin...

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