AMG Lithium Signs Binding Multiyear Agreement to Supply Battery-grade Lithium Hydroxide with EcoPro, the Holding Company of Cathode Materials Manufacturer EcoPro BM
September 06 2022 - 12:00AM
AMG Lithium Signs Binding Multiyear Agreement to Supply
Battery-grade Lithium Hydroxide with EcoPro, the Holding Company of
Cathode Materials Manufacturer EcoPro BM
Amsterdam, 6
September 2022
(Regulated Information) --- AMG Advanced
Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG")
announces its wholly owned subsidiary, AMG Lithium GmbH of
Frankfurt (“AMG Lithium”), has signed a binding supply agreement
("Agreement") with Korean company EcoPro ("EcoPro"), for an initial
three-year term. AMG Lithium will supply EcoPro with battery-grade
lithium hydroxide from its plant in Bitterfeld-Wolfen, Germany,
which is recently under construction and scheduled to start
commissioning in Q3 2023. Under the Agreement, AMG Lithium will
deliver a minimum of 5,000 tonnes per annum (“tpa”) of
battery-grade lithium hydroxide to EcoPro BM’s cathode materials
production plant in Debrecen, Hungary. The contract includes an
option for additional volumes.Initial quantities for qualification
purposes are scheduled to be delivered in late 2023 – with regular
quantities to follow in 2024.AMG Lithium plans to produce an annual
amount of 20,000 tpa of battery-grade lithium hydroxide in the
first module in Bitterfeld-Wolfen with four additional modules
planned to achieve a total annual production capacity of 100,000
tpa.“We are happy to have reached this Agreement to supply EcoPro’s
European cathode materials plant out of our Bitterfeld refinery. We
are looking forward to growing our future business with EcoPro with
additional quantities and potentially dedicating an entire module
on an exclusive basis,” said Stefan Scherer, CEO of AMG
Lithium.
This press release contains inside information within the
meaning of Article 7(1) of the EU Market Abuse Regulation.
This press release contains regulated
information as defined in the Dutch Financial Markets Supervision
Act (Wet op het financieel toezicht).
About AMG
AMG is a global critical materials company at
the forefront of CO2 reduction trends. AMG produces highly
engineered specialty metals and mineral products and provides
related vacuum furnace systems and services to the transportation,
infrastructure, energy, and specialty metals & chemicals end
markets.AMG Clean Energy Materials segment combines AMG’s recycling
and mining operations, producing materials for infrastructure and
energy storage solutions while reducing the CO2 footprint of both
suppliers and customers. AMG Clean Energy Materials segment spans
the vanadium, lithium, and tantalum value chains. AMG Critical
Materials Technologies segment combines AMG’s leading vacuum
furnace technology line with high-purity materials serving global
leaders in the aerospace sector. AMG Critical Minerals segment
consists of AMG’s mineral processing operations in antimony,
graphite, and silicon metal.
With approximately 3,300 employees, AMG operates
globally with production facilities in Germany, the United Kingdom,
France, the United States, China, Mexico, Brazil, India, Sri Lanka,
and Mozambique, and has sales and customer service offices in Japan
(www.amg-nv.com).
For further information, please
contact:AMG Advanced
Metallurgical Group
N.V. +1
610 975
4979Michele
Fischermfischer@amg-nv.com
Disclaimer
Certain statements in this press release are not
historical facts and are “forward looking”. Forward looking
statements include statements concerning AMG’s plans, expectations,
projections, objectives, targets, goals, strategies, future events,
future revenues or performance, capital expenditures, financing
needs, plans and intentions relating to acquisitions, AMG’s
competitive strengths and weaknesses, plans or goals relating to
forecasted production, reserves, financial position and future
operations and development, AMG’s business strategy and the trends
AMG anticipates in the industries and the political and legal
environment in which it operates and other information that is not
historical information. When used in this press release, the words
“expects,” “believes,” “anticipates,” “plans,” “may,” “will,”
“should,” and similar expressions, and the negatives thereof, are
intended to identify forward looking statements. By their very
nature, forward looking statements involve inherent risks and
uncertainties, both general and specific, and risks exist that the
predictions, forecasts, projections and other forward looking
statements will not be achieved. These forward looking statements
speak only as of the date of this press release. AMG expressly
disclaims any obligation or undertaking to release publicly any
updates or revisions to any forward looking statement contained
herein to reflect any change in AMG's expectations with regard
thereto or any change in events, conditions, or circumstances on
which any forward looking statement is based.
- AMG Lithium Announcement September 6 2022 Final PDF
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