LG Energy Solution (LGES) will work with Syrah Resources on the testing and verification of natural graphite anode material. Syrah’s facility in Vidalia, Louisiana, which is slated to begin production in 2023, will supply the natural graphite.
“Our partnership with Syrah demonstrates our devotion to diversifying the critical minerals portfolio by directly procuring from local and regional suppliers in North America, more so as natural graphite is one of the battery materials with the least diverse supply chain,” says LGES CEO Youngsoo Kwon.
“Through the testing and verification procedures, the companies will ensure that the products satisfy LGES’s technical requirements for natural graphite, and commit efforts to determine the final product specifications by the end of 2023,” says LGES.
“Based on the results of the evaluation, LGES and Syrah will also use commercially reasonable efforts to sign a binding offtake agreement by the end of 2022,” says LGES. “The annual procurement targets for natural graphite will begin at 2,000 metric tons in 2025 and continuously increase in the coming years.”
Source: LG Energy Solution