- Talga (TLG) enters a non-binding letter of intent (LOI) with Verkor to supply the company’s graphite anode product from its Vittangi project in Sweden
- The LOI formalises commercial discussions underway and sets out the terms for Talga to supply Talnode-C for electric vehicle applications over four to eight years
- The parties will work towards executing a binding term sheet in Q1 2023 alongside advancing product qualification programs
- Shares in Talga are up 2.22 per cent, trading at $1.62 at 12:21 pm AEDT
Talga (TLG) has entered into a non-binding letter of intent (LOI) with Verkor to supply the company’s graphite anode product, Talnode-C, from its Vittangi project in Sweden.
The LOI formalises commercial discussions underway between the companies and sets out the terms for Talga to supply the French manufacturer with Talnode-C for electric vehicle applications over a four to eight-year period.
The parties will work towards executing a binding term sheet in the current quarter alongside advancing product qualification programs.
Talga is allocating its planned anode production across offtake supply agreements in support of its project financing strategy, focusing on European customers.
The company’s mission to enable the world’s most sustainable batteries aligns well with Verkor’s mandate to accelerate the large-scale industrialisation of batteries in Europe.
In November 2022, the company announced that Vittangi had passed the European Investment Bank’s (EIB) preliminary screening for debt financing.
This move reportedly follows “substantial” due diligence, including site visits, and has led the EIB to advance the Sweden-based project to ‘Under Appraisal’ ahead of a decision.
Shares in Talga were up 2.22 per cent, trading at $1.62 at 12:21 pm AEDT.