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FREYR Battery concludes frame agreements for > 90% of raw material requirements for initial plants in Mo i Rana

Green Car Congress

FREYR Battery has entered into nine frame agreements with key suppliers for the supply of battery materials required for the Customer Qualification Plant (CQP) being built in Mo i Rana, Norway. FREYR is on track to start the initial sample production of lithium iron phosphate (LFP) battery cells in its CQP in the second half of 2022.

Batteries 243
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Daimler takes minority stake in Sila Nanotechnologies; next-generation lithium-ion battery materials

Green Car Congress

Daimler AG has acquired a minority equity stake in US battery material specialist Sila Nanotechnologies Inc. Founded in 2011, Sila Nano is a developer of new battery materials which outperform existing lithium-ion technologies. The advancements Sila Nano have made in battery performance are very promising.

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LG Energy Solution signs binding term sheet with Sigma Lithium for battery-grade lithium concentrate

Green Car Congress

LG Energy Solution (LGES) has signed a six-year binding term sheet with Canadaa-based Sigma Lithium Corporation for an offtake agreement on a “take or pay” basis for the sale of 6% battery-grade high purity and environmentally sustainable lithium concentrate.

Energy 170
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Nikola announces $200M convertible senior notes investment; approx. $1B cash and liquidity position

Green Car Congress

Nikola Corporation announced that an institutional investor has agreed to make a $200-million investment in Nikola through the purchase of Convertible Senior Notes. Funds advised by Antara Capital LP have agreed to purchase $200 million aggregate amount of 8.00% / 11.00% Convertible Senior Notes due 2026. Citigroup Global Markets Inc.

Convert 186
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Current issue of fka/Roland Berger E-mobility Index drops US to 4th place

Green Car Congress

The index—now in its tenth year—facilitates a comparison of competitive positions of the relevant automotive nations (the US, Germany, China, France, Italy, Japan and South Korea) in the field of e-mobility, based on an objective assessment of those countries in three key areas: technology, market and industry.

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Koch invests $252M in Compass Minerals to support development of lithium brine project in Utah; ESM for DLE

Green Car Congress

Compass Minerals previously engaged Veolia to conduct lithium chloride to lithium hydroxide conversion testing as the first-known conversion to battery grade lithium hydroxide of lithium brine originating from the Great Salt Lake. Jones Day acted as legal advisor for KM&T. The issuance price represents a 6.2%

Utah 195
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Liontown and Tesla enter into a binding term sheet for supply of lithium from Kathleen Valley project

Green Car Congress

Australia-based battery materials company Liontown Resources Limited entered into a legally binding sales and purchase term sheet with electric vehicle manufacturer Tesla for the supply of spodumene concentrate. Using today’s market pricing, the contract terms would deliver an SC6.0

Supplies 243