Aug 17, 2021

Britishvolt/Glencore: long-term partnership supply of cobalt

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Glencore
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Britishvolt announces its latest strategic partnership with Glencore for long-term supply of cobalt

The UK’s leading investor in lithium-ion battery cell technologies and associated research and development (R&D) - Britishvolt - has entered into a long-term strategic partnership with Glencore.

"We are delighted to be partnering with Britishvolt, a pioneer in UK electric vehicle battery technology and production. The UK has a unique legacy of automotive innovation and Britishvolt’s ambition to power the next generation of mobility will add to this rich history,” said David Brocas, Head Cobalt Trader, Glencore.

What Does This Partnership Mean for Britishvolt?

By forming the strategic partnership with Glencore - one of the largest industrial producers and recyclers - Britishvolt will receive a long-term supply of responsibly sourced cobalt.

As part of the agreement, Glencore will support Britishvolt’s recycling and recycled content ambitions and has made an undisclosed investment into Britishvolt.

“Our commitment to supporting our partners in meeting their requirements for essential battery ingredients is key to underpinning long-term supply agreements. As the mobility and energy transition accelerates, so does future demand for battery metals such as cobalt, copper and nickel. Glencore is already a leading producer and supplier of these metals, helping to underpin our ambition of achieving net-zero total emissions by 2050,” Brocas added.

Representing a major milestone for Britishvolt and its mission to assist vehicle OEMs on their journey to electrification, the deal emphasises the need for strategic partnerships between raw materials and battery producers to achieve net-zero, as well as the growing focus on environmental, social, and governance (ESGs) for manufacturers and investors. 

By securing this key battery ingredient from Glencore, Britishvolt states that it is significantly de-risking its operations by obtaining long-term security of supply across the business. 

“This is a huge step in the right direction for Britishvolt as we look to accelerate the transition to a low carbon society. By partnering with Glencore, we are locking in supply and de-risking the project. At the very heart of our business are our core ESG Principles and Commitments. Cobalt is a key ingredient in electric vehicle batteries and knowing that we are being supplied with responsibly produced cobalt is a signal to the market that we are living by our values,” said Orral Nadjari, CEO/Founder, Britishvolt.

“This strategic partnership aligns perfectly with our ESG Principles, including ‘applying best practice wherever possible’ as well as ‘assessing labour, human rights and ethical procurement performance of our suppliers’. We believe that to be a true pioneer in the battery cell manufacturing industry, Britishvolt must lead by example and ensure that its supply chains are as ethical, low carbon and sustainable as is possible,” added Nadjari.

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