Battery materials firm Umicore will begin supplying Samsung SDI with around 80,000 metric tonnes of NMC (Nickel Manganese Cobalt) lithium-ion cathode materials next year after signing a multi-year strategic agreement.
The majority of the cathode materials will initially be produced in Korea, with additional volumes supplied from Umicore plants in different regions.
The agreement provides Samsung with security of supply to accomodate their lithium-ion battery businesses in Europe and Asia, particularly in automotive applications.
The materials are due to be used in automotive applications with a small amount set aside for energy storage systems, said Umicore.
Marc Grynberg, Umicore’s CEO, said the deal underscored a sustainable battery value chain was taking shape and demonstrated the commitment of key industry players to support the growing penetration of electric vehicles globally.