Glencore has made an undisclosed investment in Britishvolt's £4bn project and entered a partnership to supply the Northumberland-based company with cobalt.

The deal highlights the need for strategic partnerships between raw material and battery producers on the roadmap to net-zero, and Glencore stated that the long-term strategic partnership for the supply of cobalt with Britishvolt will focus on ESG considerations.

The partnership represents a major milestone for Britishvolt on its quest to assist vehicle makers 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.

Orral Nadjari, Britishvolt CEO 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. At the very heart of our business is our core ESG principles and commitments. Cobalt is a key ingredient in electric vehicle batteries and knowing that we are being supplied with ethically produced, low-carbon cobalt is a signal to the market that we are living by our values.”

Share Story: