InoBat Auto & Green Lithium sign sustainability partnership
Slovakian electric vehicle battery maker InoBat Auto and mineral processing firm Green Lithium, which is planning the UK's first large-scale commercial lithium refinery, have signed a partnership which aims to accelerate the development of a 'cradle-to-cradle' battery value chain in the country.
As part of the deal, Green Lithium will supply InoBat with battery-grade lithium chemicals. Financial details of the partnership were not disclosed.
In a statement, InoBat Auto said that the partnership combined the company's "expertise in innovative battery technology with Green Lithium’s ability to increase, diversify and secure the European supply of low-carbon battery-grade lithium chemicals".
Read more: Plans laid for UK's first lithium refinery
Lithium is a key raw material in the production of EV batteries and with bans on the sale of new combustion engine cars looming in the UK and other countries, automakers are scrambling to secure a steady supply.
According to Statista, in 2021 Australia was the world leader in terms of lithium mine production, with an estimated output of 55,000 metric tonnes. Chile and China ranked second and third, with lithium production totalling 26,000 and 14,000 metric tonnes, respectively.
It is increasingly recognised within the sector that battery production is only truly sustainable if it covers the entire battery life cycle, from mining to recycling, hence the partnership's 'cradle-to-cradle' value chain goal. Creating a circular economy also reduces European reliance on exports.
The two companies will also collaborate in achieving their strategic business goals. InoBat is looking to expand its UK presence and develop a gigafactory network across Western Europe throughout 2024.
"InoBat and Green Lithium share ambitions for a greener world and this agreement is an important step forward in our journey towards net-zero. In partnership with Green Lithium, we will accelerate the global rollout of green battery technology using low-carbon, battery-grade lithium hydroxide to create, what we believe, to be the most innovative and advanced batteries on the market", said Marian Bocek, CEO and Co-Founder of InoBat Auto.
Read more: Europe's first major lithium project completes pilot
"Green Lithium’s mission is to accelerate the adoption of electric vehicles and sustainable energy storage by increasing the supply of low-carbon battery-grade lithium chemicals", said Sean Sargent, CEO of Green Lithium.
"In InoBat, we have found an organisation with whom we will not only have a commercial supplier relationship but one with whom we can work together as part of a wider partnership to create a sustainable battery supply chain and further our shared sustainability ambitions", he added.
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