Talga (ASX:TLG) and ACC enter offtake deal for anode product

2 min read | September 28, 2022 02:04 PM AEST | By Team Kalkine Media

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Talga (ASX:TLG) and ACC enter offtake deal for anode product — Image source: © Zhudifeng | Megapixl.com

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Highlights:

Talga has entered a non-binding contract with European battery maker, ACC to supply an anode product, Talnode®-C.

As per the deal, Talga Group will supply 60,000 tonnes of Talnode®-C in a 5-year term.

ACC is co-owned by Mercedez-Benz and Stellantis.

Materials firm, Talga Group Ltd (ASX:TLG) has shared on 27 September 2022, that it has signed a non-binding offtake term sheet with Automotive Cells Company (ACC). ACC is a European battery maker and a company co-owned by Europe’s leading automotive brands like Mercedes-Benz, Alfa Romeo, Chrysler, Maserati, Fiat, Jeep, etc. (Stellantis) and a battery company, Saft.

While the shares reacted positively to the news yesterday, the stock TLG was spotted trading 6.713% lower at AU$1.320 apiece at 1:30 PM AEST today.

A glance at Talga’s Vittangi project

Through the Vittangi anode project, Talga seeks to develop Europe’s first battery anode factory in Luleå, Sweden. The company will produce 19,500tpa of Talnode®-C using the Nunasvaara South graphite mine. Talga also states that its flagship battery anode product (Talnode®-C) has an ultra-low emissions profile for producing greener lithium-ion batteries. Moreover, the product is manufactured with fast charging and low-temperature capabilities. Talnode®-C is primarily used for EVs and consumer electronics.

About Talga

Talga represents itself as a battery anode and advanced materials company passionate about sustainable growth and the future. The company was founded in 2007 and is headquartered in Australia. Talga Group is developing green battery anode and advanced materials to build a clean and ethical supply chain across European markets.

About ACC

Automotive Cells Company is co-owned by giants of the European automotive industry, Saft (a subsidiary of TotalEnergies), Stellantis, and Mercedes-Benz. ACC began its operations in 2020 by building its first R&D centre in Bruges, Bordeaux. The pilot plant in Nersac, France (Nouvelle Aquitaine) was the next milestone for ACC. The company specialises in developing and manufacturing battery cells and modules for EVs with strong attention to safety and performance while producing as little carbon emissions as possible.

ACC is set to build its first gigafactory in 2023 (Hauts-de-France), the second in 2025 (Germany), and the third will follow along. The company aims to increase its production capacity to 120 GWh by 2030.

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