UK-based battery cell technology company Britishvolt has signed a Memorandum of Understanding [MoU] with Posco Chemical Co. Ltd., a global leader in the provision of first class energy/battery materials, to secure a stable supply of anode and cathode active materials.
The MoU, that is targeting a Joint Development Agreement (JDA), is intended to help provide Britishvolt with a supply of cathode and anode active materials to support its requirements for pilot and volume production of advanced technology battery cells.
The MoU also includes the provision for joint materials testing and European Union localization, where practical.
Posco’s vertical integration strategy, with ownership of mines and processing facilities across the battery sector, enables end-to-end, stable, supply chain supply, which is aligned with Britishvolt’s strategy.
The Britishvolt-Posco Chemical MoU is the latest in a sequence recently signed by Britishvolt to support its requirements for high volume material supply for pilot and volume production of battery cells. More strategic partnerships are expected to be announced in coming weeks, all in-line with Britishvolt’s strict ESG Principles & Commitments.