2022-09-27
Sep. 27, 2022 - Talga Group (TLG) has signed an early-stage offtake agreement with Automotive Cells Company (ACC) over the Talga Talnode-C battery anode product
Under the non-binding deal, Talga will supply ACC with 60,000 tonnes of its flagship Talnode-C product over five years.
The battery anode product will be sourced from Talga’s Vittangi anode project in Sweden, which aims to supply the lithium-ion battery market.
Talnode-C is made from Talga’s high-grade natural graphite and proprietary coating processes to offer active anodes in sub-6 micron sizes. The product is fast-charging and performs at a low temperature and is targeted for electric vehicles and consumer electronics.
Talga said its mission to develop sustainable batteries aligned well with ACC’s aim of accelerating the transition to cleaner and greener transport.
ACC is co-owned by automotive brands Mercedes-Benz and Stellantis and battery company Saft and is currently establishing its first lithium-ion battery factory in France. ACC reportedly has plans to build gigafactories in Germany and Italy to ramp up its total production capacity to 120 gigawatt hours per annum in 2030.
The parties expect to complete necessary due diligence work in time to finalise a binding and definitive offtake agreement by the end of November.
The offtake supply deal is set to commence in 2026.
TLG shares were up 13.92 per cent to $1.35 at midday AEST.
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