amsterdam, 6 September 2022 (Regulated Information) — AMG Advanced Metallurgical Group NV (“AMG”, EURONEXT AMSTERDAM: “AMG”) announces that its wholly owned subsidiary AMG Lithium GmbH of Frankfurt (“AMG Lithium”) has signed a binding supply agreement (“Agreement”) with Korean company EcoPro (“EcoPro”), initially for three years. AMG Lithium will supply EcoPro with battery-grade lithium hydroxide from its facility in Bitterfeld-Wolfen, Germany, which is recently under construction and is expected to be operational in the third quarter of 2023.
Under the terms of the agreement, AMG Lithium will supply at least 5,000 tonnes per year of battery-grade lithium hydroxide to EcoPro BM’s cathode materials production facility in Debrecen, Hungary. The contract includes an option for additional volumes.
The first quantities for qualification purposes are to be delivered at the end of 2023 – regular quantities are to follow in 2024.
AMG Lithium plans to produce an annual quantity of 20,000 tpa of battery grade lithium hydroxide in the first module at Bitterfeld-Wolfen, with four further modules planned to reach a total annual production capacity of 100,000 tpa.
“We are pleased about this agreement to supply EcoPro’s European cathode materials plant from our Bitterfeld refinery. We look forward to growing our future business with EcoPro with additional volumes and potentially making an entire module available exclusively,” said AMG Lithium CEO Stefan Scherer.
This press release contains insider information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
This press release contains regulated information within the meaning of the Dutch Financial Markets Authority Act (Wet op het finance toezicht).
About AMG
AMG is a global critical materials company at the forefront of CO2 reduction tendencies. AMG produces highly engineered specialty metals and mineral products and provides associated vacuum furnace systems and services for transportation,…
