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- Materials provider Talga Resources (TLG) has inked an agreement with lithium-ion battery manufacturer Farasis Energy Europe
- Through the agreement, Talga will provide coated anode products, which Farasis will evaluate for its batteries and potential European development
- Talga is currently building an anode production facility for lithium-ion batteries in Sweden, and hopes to enter Europe’s battery market
- The demand for lithium-ion batteries in Europe is growing rapidly as the continent transitions to more renewable energy sources
- Talga Resources is 2.5 per cent in the green at market open, with shares trading for 41 cents per share
Materials provider, Talga Resources (TLG) has made an agreement with lithium-ion battery manufacturer, Farasis Energy Europe.
Farasis Europe is a subsidiary of Farasis Energy, located in Germany. The company is one of the world’s leaders in the lithium-ion battery market.
Talga Resources is currently developing as a lithium-ion battery anode producer, hoping to break into the European market.
As such, the company is building an anode production facility for such batteries in Northern Sweden. The facility uses Talga’s material technologies, Swedish carbon source, and electricity from renewable sources. Specifically, the operations use fossil-free hydroelectricity.
Under the non-binding agreement, Talga will provide Farasis Europe with coated (active) anode products. In turn, Farasis will evaluate the products for potential application in Farasis batteries. The company will also assess the possible opportunities for business development of the products in Europe.
Talga’s Managing Director, Mark Thompson, commented on the agreement, which is valid until 2024.
“Following successful initial tests, we are very pleased to continue this progress in collaboration with the experienced Farasis team,” Mark noted.
“Talga is making substantial progress in commercialising its European lithium-ion battery anode products, and demand is growing rapidly, particularly in the EV market. We look forward to working together with Farasis to advance our anode materials for their innovative energy storage solutions,” he said.
As Mark said, demand for lithium-ion batteries in Europe is experiencing rapid growth. The continent is currently transitioning to more electric vehicles and renewable energy storage. As such, sustainable and locally sourced battery anode materials, like Talga’s, will be sought after.
Bloomberg’s annual Electric Vehicle Outlook forecast predicted that global demand for EV batteries will grow 14-fold by 2030. Such a massive spike would require approximately 1.7 million tonnes of anode material every year, in order to sustain it.
Talga Resources is 2.5 per cent in the green at market open, with shares trading for 41 cents per share at 10:55 am AEST.
