SK on announced a contract to supply natural graphite. American Anode material partner Westwater Resources. This Purchase of AmericanSK On’s ability to respond to the crisis is strengthened by graphite sourced from. Inflation Reduction Act (IRA).
On Feb. 12, SK revealed that it had signed a contract for the supply of natural graphite with Westwater. According To the agreement Westwater The refinery will provide natural graphite. Kellyton, AlabamaSK on will be supplying its manufacturing facility in the U.S. between 2027 and 2031. This This is an off-take contract that permits the purchase at a price pre-agreed if the material developed meets certain criteria. Depending On the growth rate of North American During the duration of the contract, you can purchase up to 34,000 tonnes.
Following A joint development agreement was signed for battery anode material in May The partnership between the companies has been expanded to 2023. They Plan to apply the refined graphite Westwater SK on batteries are under development. By By extending their cooperation in the purchase of anode raw materials (natural graphite), they expect to see a significant increase in their IRA response capability.
According From 2025, all electric vehicles (EVs), that are sourced from critical minerals, will be subject to the IRA. Foreign Entities You can also find out more about the following: Concern The FEOC will not be eligible for EV subsidies. United States. CurrentlyThe global supply chain of graphite, which is a key component in anode materials, is almost completely dependent on Chinese Companies that are FEOCs. ConsequentlyThe battery industry wants to delay the application of FEOC regulations on graphite by at least two years, until 2026. This is to ensure new technologies and sources of supply.
Anode Materials are one of the essential components that make up lithium-ion batteries. This is because they affect battery life and charging speeds. GraphiteThe majority of the anode material is sourced from ChinaIt is important to note that a large part of the anode material used in the world comes from. Chinese suppliers.
Following A memorandum signed with Australia’s Syrah Resources In 2022, SK also entered a joint-development agreement with a third party for the supply natural graphite. Urbix The following are some examples of how to use January 2023. In Signing contracts with suppliers has allowed SK to strengthen its procurement capabilities in addition to securing the battery materials. Chile’s SQM, Australian companies Lake Resources. Global Lithium Cathode materials.
Park Jong-jin is vice president of strategic purchasing at SK On. “We will continue to actively respond to the IRA by consistently pursuing collaborations with leading local raw material companies.”