Lithium materials firm Barrel Energy has signed a memorandum of understanding (MoU) with exploration-stage firm American Lithium Minerals to partner in building production facilities in the US.
The MoU will allow Barrel to develop a US-based manufacturing chain and use recycling technologies developed by Roshan— the firm Barrel became the majority stakeholder of last month.
The non-exclusive AMLM agreement calls for lithium products to be pilot tested, manufactured and even recycled at industrial complexes.
The technology, operations and products will be provided by Barrel through its agreement with Roshan Energy, as well as any technology sourced by American Lithium.
Hydrabad, India-based Roshan has developed a line of lithium battery products for electric vehicles, the telecom industry as well as home energy storage solutions.
Barrel and Roshan plan to build a lithium-ion battery plant in India to target the country’s growing small vehicle EV market.
The Barrel-Roshan agreement allows for Barrel to establish a US based manufacturing unit for key Roshan battery products and designs.