TU-TESL

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Foreign media reported that mineral commodities Ltd (ASX: MRC), a global exploration and mining company, and freyr, a Norwegian battery manufacturer, signed a memorandum of understanding, and the two sides will jointly develop and produce lithium cathode materials. According to the agreement, both parties have agreed to evaluate the natural flake graphite concentrate of skaland, a subsidiary of MRC, as the raw material supply source of anode materials. MRC bought skaland graphite in October for nearly $7 million. MRC will conduct R & D and investment to meet freyr's requirements for raw material quality and quantity. Tom ayensen, chief executive of freyr, said that we are particularly pleased to work with supporting raw material suppliers like MRC, which is likely to obtain world-class natural graphite raw material supply from skaland graphite. Marc Caruso, executive chairman of MRC, said that cooperation with world-class battery manufacturers would further achieve the company's goal of providing high-quality natural graphite products for the fast-growing European battery market. Freyr, a Norwegian start-up battery company, plans to build a super battery factory in Norway, one of the largest lithium battery factories in Europe. Freyr's lithium battery products are mainly aimed at the fast-growing European electric vehicle market, and through the cluster based R & D plan with leading institutions and companies in Norway and Europe, more markets are developed in the fields of shipping, fixed storage, short-distance aviation and offshore. In April this year, freyr announced that it had signed an investment agreement with EIT innoenergy, the European Agency for sustainable energy innovation. EIT innoenergy will invest 7.25 million euros (56.25 million yuan) in freyr to support its establishment of a lithium battery plant in Norway. Freyr immediately announced that it plans to build its first lithium battery factory with an annual capacity of 32 GWH in the Norwegian town of Lana, and is developing more "Nordic battery belt ”" plans. At the same time, 600 MW onshore wind farm is planned to be developed in sjonfjellet (sjon mountain) to ensure that the production of battery packs is driven by 100% renewable, clean wind and hydropower. Freyr is seeking approval, technical licensing and funding for Norway's first proposed battery plant. Freyr expects the construction of the plant to start in 2021 with a capital of up to US $2 billion (about RMB 14 billion). Currently, freyr has initiated a fundraising process with potential strategic and financial partners to ensure additional funding is available to implement its battery production and wind farm plans.