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Umicore tightens cobalt supply grip with Glencore deal

Wed, 05/29/2019 - 10:28 -- John Shepherd
Umicore tightens cobalt supply grip with Glencore deal

Swiss mining company Glencore has signed a deal to supply cobalt hydroxide for Umicore’s battery materials operations.

The long-term revolving agreement comes just days after Umicore announced it was expanding with its planned acquisition of Freeport Cobalt’s cobalt refining and cathode precursor activities in Finland.

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Umicore expands battery materials business with cobalt deal

Fri, 05/24/2019 - 10:45 -- John Shepherd
Umicore expands battery materials business with cobalt deal

Belgium’s Umicore is to acquire Freeport Cobalt’s cobalt refining and cathode precursor activities in Finland as an “important step” toward expanding the company’s battery materials business.

The deal, which is expected to be finalised by the end of 2019, is for a total consideration of US$150 million on a debt and cash free basis, plus the value of the working capital to be taken over at closing, which at the end of March was approximately $40m.

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VW and Northvolt in driving seat for new battery research group

Fri, 03/22/2019 - 13:22 -- John Shepherd
VW and Northvolt in driving seat for new battery research group

Volkswagen has formed a European batteries research consortium with Swedish lithium-ion start-up Northvolt.

The German carmaker said the newly-formed European Battery Union (EBU) would work with research and industry partners in seven European Union member states to cover “the entire battery value stream – from raw materials through cell technology to recycling”.

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Audi and Umicore open up on closed loop

Mon, 11/05/2018 - 00:00 -- Hugh Finzel

German car manufacturer Audi and Belgium-based material tech giant Umicore have announced the successful completion of phase one testing for closed loop EV battery recycling, reporting that “95% of valuable battery materials can be recycled”.

The cooperation— which began in June 2018— is looking to establish closed loop recycling for lithium-ion batteries, as companies wake up to the challenges of producing lithium-ion batteries without effective recycling processes in place.

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BMW, Northvolt and Umicore join forces for cells recycling

Mon, 10/22/2018 - 00:00 -- Hugh Finzel

The BMW Group has formed a joint technology consortium with Swedish lithium-ion start-up Northvolt and Belgium-based materials tech giant Umicore, to develop a “complete and sustainable value chain for battery cells for EVs in Europe”.

This announcement comes just weeks after BMW placed a “billion euro” order for EV batteries from China, saying that they “can’t wait” for Europe to build a battery cells industry.

The consortium’s main aim is to establish a closed life cycle loop for batteries to make battery cells sustainable. The partners said this would be achieved by creating a recyclable cell design and manufacturing process that uses mostly renewable energy.

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Umicore selects Poland for cathode material plant

Tue, 06/12/2018 - 09:32 -- John Shepherd
Umicore selects Poland for cathode material plant

Belgium-based materials technology giant Umicore is to build a cathode materials production plant in Poland.

Umicore said it would invest EUR660 million ($781m) in launching the first phase of the plant at Nysa, in the southwest of the country, which is expected to start up in late 2020.

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Umicore eyes expansion after shares sale

Mon, 02/12/2018 - 10:23 -- John Shepherd
Umicore eyes expansion after shares sale

Belgium’s Umicore has raised nearly EUR900 million ($1.1 billion) in a shares sale to fund potential future acquisitions and boost investments in cathode materials.

The Brussels-based global materials technology and recycling firm sold 10% of its shares in a block trade on 8 February.

 

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Umicore starts work on China materials plant

Mon, 01/08/2018 - 10:19 -- Xuan Zhong
Umicore starts work on China materials plant

Belgium-based Umicore has broken ground in China for a new battery materials plant as part of a EUR360 million ($434m) expansion programme.

Umicore said the new plant in in Jiangmen, Guangdong Province, would produce NMC (nickel-manganese-cobalt) cathode materials for rechargeable lithium-ion batteries to meet increasing demand for the electric vehicle market.

 
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Panasonic expects profit from Tesla batteries by year-end

Wed, 08/09/2017 - 09:28 -- News Editor
Panasonic expects profit from Tesla batteries by year-end

Electronics giant Panasonic expects to see a profit from Tesla’s Model 3 batteries by the end of the year.

Panasonic began battery cell production for the mass-market electric vehicle at their $5 billion Gigafactory in Nevada, USA, in June. 

 

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€300M ($327.5M) boost in NMC production

Mon, 05/15/2017 - 10:44 -- Xuan Zhong
€300M ($327.5M) boost in NMC production

Global materials technology and recycling group Umicore plans to invest €300 million ($327.5 million) between 2017 and 2019 to further increase its production of NMC (nickel-manganese-cobalt) cathode materials for lithium-ion rechargeable batteries.

The Brussels-based company says demand for its NMC materials from electric vehicle manufacturers is outpacing the market and the increased capacity will enable it to cater for a surge in orders. The investment in its plants in South Korea and China will also enable the company to meet growing demand for its proprietary high-energy LCO (lithium cobalt oxide) cathode materials used in high-end consumer electronics.

 

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