(Kitco News) - Europe-focused lithiumdeveloper Vulcan Energy (ASX:VUL) announced yesterday that the company hassecured a new binding lithium hydroxide offtake agreement with?EUR?Umicore, as partof its Zero Carbon?EUR?Lithium?,,? project.
The company said that Umicorewill be a direct consumer of its lithium hydroxide products, purchasing aminimum of 28,000 tonnes and a maximum of 42,000 tonnes of battery gradelithium hydroxide over the duration of the agreement.
This represents approximately20% of the company's current planned output over the period, Vulcan noted.
"Umicore is a leader incathode materials production used in lithium-ion batteries for electrifiedtransportation, and our partnership means we will supply leading automakerswith our unique, zero carbon product," the company said in its statement.
Vulcan added it is aiming tobecome the world's first lithium producer with net zero greenhouse gasemissions. Its Zero Carbon Lithium?,,? project intends to produce abattery-quality lithium hydroxide chemical product from its combined geothermalenergy and lithium resource, which is Europe's largest lithium resource, inGermany.
By Vladimir BasovFor Kitco News
Follow kitconewsnow vbasov@kitco.comwww.kitco.com