Lithium processing company Green Lithium has signed a feedstock deal with commodities trader Trafigura that supports the former's plans for a UK-based commercial lithium refinery.
Green lithium has said its planned 50,000 tonne per annum refinery will act as a hub to process unrefined lithium concentrate from sources across the UK and Europe.
Trafigura plans to supply lithium feedstock required for the planned UK-based refinery and invest equity in Green Lithium's development phase funding round.
Sean Sargent, Chief Executive Officer at Green Lithium, said: "The electric revolution is fundamental to reducing the carbon emissions that contribute to global climate change and ensuring net-zero targets can be met. Green Lithium's refinery will accelerate the adoption of electric vehicles and sustainable energy storage through the increased supply of low-carbon, battery-grade lithium chemicals - a key component of lithium-ion batteries.
"Fulfilling this vision requires the right supply chain and investment partners. In Trafigura, we have found the perfect match in a company that not only has vast experience and expertise in the battery supply chain, but that is also willing to make a key equity investment to support Green Lithium in achieving its project objectives."
Socrates Economou, Head of Nickel and Cobalt Trading for Trafigura, said: "In addition to our core business in physical commodities trading and logistics, Trafigura has a strong track record of financing and investing in mining and metals projects globally. This landmark project has the potential to revolutionise the European supply chain for EV production and sustainable energy storage at this critical time in the energy transition.
"We're looking forward to working with Green Lithium to support its development, as we continue to bring Trafigura's global expertise to the fore in transforming the battery metals supply chain for a low-carbon future."
Last June, Green lithium raised £1.6 million (US$2.2 million) from investors in a Seed round to progress its planned commercial-scale lithium refinery in the country.
