Talga raises US$19M to accelerate anode production; signs MoU with ABB to explore development and construction
Battery anode company Talga Group Ltd completed an A$25-million (US$19-million) placement to fund the Electric Vehicle Anode (EVA) pilot plant as part of the development of the Vittangi Anode Project located in northern Sweden.
Combining a scalable battery anode production facility with integrated graphite mining operations, the project will be powered by 100% renewable electricity to supply ultra-low emission coated anodes for green lithium-ion batteries. It will be located around 15 km from the town of Vittangi and is expected to begin anode production at 19,000 tons per annum from 2023.
Batteries and graphite rod image courtesy of Talga
Talga has also signed a Memorandum of Understanding (MoU) with global technology company ABB jointly to develop the Vittangi Anode Project.
Sweden is known to have significant mineral resources of graphite and exploration takes place primarily in the north of the country. This work is important for steel, car and battery manufacturing industries. Most of the world’s reserves are in China, with other key nations India and Brazil. Europe currently imports most of its graphite, but with the increase in battery technologies the aim is to meet a proportion of the additional demand.
A pre-feasibility study for the Vittangi project was completed in May 2019. The location in Sweden is considered to be a low risk mining and investment jurisdiction. Crucially, it is close to emerging European battery gigafactories currently under development.
ABB is at the forefront of industrial automation and electrification, and we are very pleased to have their support as we continue to execute on our plan to build Europe’s largest lithium-ion battery anode production facility for more sustainable batteries.—Mark Thompson, Managing Director, Talga Group