Diversified mining and marketing company Glencore has entered into a long-term strategic partnership to supply UK-based lithium-ion battery cell technologies investor Britishvolt with responsibly sourced cobalt.
The partnership represents a major milestone for Britishvolt on its quest to assist vehicle original equipment manufacturers with their roadmaps to electrification.
By securing one of the key battery ingredients from the Glencore cobalt brands, Britishvolt is significantly derisking its operation by obtaining long-term security of supply across its business, Glencore says in a statement.
"We are delighted to be partnering with Britishvolt, a pioneer in UK electric vehicle battery technology and production. The UK has a unique legacy of automotive innovation and Britishvolt’s ambition to power the next generation of mobility will add to this rich history.
“Our commitment to support our partners in meeting their requirements for essential battery ingredients is key to underpinning long-term supply agreements. As the mobility and energy transition accelerates, so does future demand for battery metals such as cobalt, copper and nickel.
“Glencore is already a leading producer and supplier of these metals, helping to underpin our ambition of achieving net-zero total emissions by 2050,” Glencore cobalt trader head David Brocas notes.
“This is a huge step in the right direction for Britishvolt as we look to accelerate the transition to a low-carbon society. By partnering with Glencore, we are locking in supply and derisking the project,” Britishvolt CEO and founder Orral Nadjari comments.
Nadjari says this strategic partnership aligns perfectly with the company’s environmental, social and governance principles, including applying best practice wherever possible, as well as assessing the labour, human rights and ethical procurement performance of its suppliers.