Vulcan Energy Resources Limited (Vulcan; ASX: VUL) has signed a binding lithium hydroxide offtake agreemennt (Agreemet) with Umicore, a leader in cathode materials production used in lithium-ion batteries for electrified transportation as part of Vulcan’s Zero Carbon Lithium™ Project.
In Nysa, Poland, Umicore has built the first cathode materials plant in Europe. The plant is expected to start production around year end of 2021 and materials that will be produced in Nysa will be sold to battery cell makers who produce the batteries for electric vehicles.