Battery company FREYR has signed an agreement with Glencore for the supply of ethically sourced battery metals.
As part of a memorandum of understanding (MoU) signed, the companies will supply ethically sourced materials to be included in the lithium-ion battery (LIB) cells of FREYR.
The cells will be produced at planned facilities in Mo i Rana, Norway.
Together, FREYR and Glencore will identify requirements and terms to supply the raw materials to FREYR’s LIB facilities.
By considering joint research and development (R&D) projects to adjust the quality, shape or form of Glencore’s raw materials, the companies will make them better fit into FREYR’s operating units.
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Furthermore, the companies plan to discuss projects related to R&D for lithium batteries recycling.
FREYR CEO Tom Jensen said: “Glencore is a global leader in supply and recycling of battery raw materials with a strong focus on responsible sourcing, sustainability and minimising the impact on the environment.
“We share the same ambitions and support for the goals of the Paris Agreement through decarbonisation of energy and transport systems, and to bring positive change to people and societies.”
They will also develop strategies for the use of blockchain technology to enable the transition to a low carbon economy.
The blockchain technology will help to improve traceability and transparency of raw materials in the battery supply chain where FREYR and Glencore will back development of global standards and traceability schemes to support responsible artisanal and small-scale cobalt mining.
FREYR continues to develop partnerships across the value chain and plans to announce them upon formalisation.