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Glencore invests in Britishvolt, the battery startup working on UK’s first gigafactory

Image credits: Britishvolt

The sales of EVs, be it both battery-electric and plug-in hybrid models in Europe has more than doubled last year accounting to 1.3 million units. As the mobility and energy transition accelerates, there is an increased demand for battery metals such as cobalt, copper and nickel. Glencore is already dominating this segment by being a leading producer and supplier of these metals.

Partnership with Britishvolt

Now, Glencore has announced that it has entered a long-term strategic partnership with Britishvolt, the UK’s foremost investor in lithium-ion battery cell technologies and associated R&D. It will deal with the supply of responsibly sourced cobalt.

The partnership represents a major milestone for Britishvolt on its quest to assist vehicle OEMs on their roadmap to electrification. By securing one of the key battery ingredients from the Glencore cobalt brands, Britishvolt is significantly derisking its operation by obtaining long-term security of supply across its business.

David Brocas, Head Cobalt Trader, Glencore, commented: “We are delighted to be partnering with Britishvolt, a pioneer in UK electric vehicle battery technology and production. The UK has a unique legacy of automotive innovation and Britishvolt’s ambition to power the next generation of mobility will add to this rich history.”

Orral Nadjari, Britishvolt CEO/Founder said: “This is a huge step in the right direction for Britishvolt as we look to accelerate the transition to a low carbon society. By partnering with Glencore, we are locking in supply and derisking the project. We believe that to be a true pioneer in the battery cell manufacturing industry business must lead by example and ensure that its supply chains are as ethical, low carbon and sustainable as possible.”

UK’s first gigafactory

Britishvolt is building the U.K.’s first giant battery factory in northern England. Its plant will be built in three phases having a total capacity of 30 gigawatt-hours from the end of 2027. Its production capability will equate to enough cells for around 300,000 electric-vehicle battery packs a year. Also, it will help the company underpin its ambition of achieving net zero total emissions by 2050.