AMG Lithium Partners with Easpring to Enhance Battery Supply Chain
AMG Lithium's New Collaboration with Easpring
AMG Lithium, a division of AMG Critical Materials N.V. (EURONEXT AMSTERDAM: AMG), has recently joined forces with Beijing Easpring Material Technology Co., Ltd. This exciting collaboration emphasizes the importance of establishing a strong battery materials value chain in Europe.
Strengthening Supply Chains for Lithium-Ion Batteries
The partnership centers on the supply and offtake of lithium hydroxide monohydrate, a key ingredient for producing cathode active materials used in lithium-ion batteries. This collaboration signifies a vital step towards achieving a localized European supply chain for critical battery materials.
AMG's Commitment to Sustainable Energy
With a production facility based in Bitterfeld-Wolfen, Germany, AMG Lithium stands out as the first European lithium refiner. In light of growing environmental concerns, this collaboration aims to promote the use of recycled materials and enhance the carbon footprint throughout the battery production process.
Beijing Easpring's Role
Meanwhile, Easpring, which specializes in manufacturing cathode materials, is in the process of constructing a facility in Kotka, Finland. The alignment of both companies’ efforts highlights the joint commitment to advancing the battery industry in Europe.
Accelerating the European Battery Industry
Dr. Stefan Scherer, CEO of AMG Lithium, expressed optimism about the partnership, stating it represents another significant achievement in developing a robust European battery industry. The collaboration intends not only to ensure effective production in AMG Lithium’s facility but also to negotiate a binding supply agreement between the two companies.
Future Projections and Industry Impact
Mr. Li Chengwei, Purchasing Center Director of Easpring, noted that he anticipates the cooperation will greatly benefit the new energy industry across Europe. The joint efforts of AMG Lithium and Easpring exemplify a forward-thinking approach to meeting the growing demand for electric vehicle batteries and energy storage solutions.
About AMG
AMG’s mission focuses on providing critical materials and innovative processes aimed at creating a less carbon-intensive future. The company is heavily invested in the production and development of diverse energy storage materials, which includes lithium, necessary for powering the next generation of electric vehicles.
About Easpring
Beijing Easpring, under stock code 300073, has carved out a significant niche within the lithium battery cathode material sector. As a public company listed on the Shenzhen Stock Exchange, it emphasizes intelligent equipment and cutting-edge technologies.
Contact Information
AMG Critical Materials N.V.
Thomas Swoboda
Head of Investor Relations
Tel: +49 176 1000 73 14
Email: tswoboda@amg-nv.com
Beijing Easpring Material Technology Co., Ltd.
Chengwei Li
Director of Purchasing Center
Tel: +86 13910096005
Email: lichengwei@easpring.com
Frequently Asked Questions
What is the focus of the collaboration between AMG Lithium and Easpring?
The collaboration aims at supplying lithium hydroxide monohydrate to support the production of cathode active materials for lithium-ion batteries.
Why is localizing the battery supply chain important?
Localizing the battery supply chain enhances supply stability, reduces environmental impact, and supports the development of a robust European battery industry.
What does AMG Lithium specialize in?
AMG Lithium specializes in refining lithium and producing materials essential for energy storage and electric vehicle batteries.
Where is AMG Lithium’s production facility located?
AMG Lithium’s production facility is located in Bitterfeld-Wolfen, Germany.
What key developments are happening with Easpring?
Easpring is currently constructing a cathode active material facility in Kotka, Finland, aligning with AMG's activities to strengthen the battery materials market in Europe.
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