Infinity Lithium Ltd (ASX:INF) has joined forces with AEDIVE to support the development of electric vehicles and general electric mobility in Spain.
AEDIVE has about 150 members in the electric mobility market’s supply chain and advocates for industry support from government among other things.
Infinity’s CEO and managing director Ryan Parkin said: “This is another example of the rapidly evolving recognition of the importance of battery chemicals within Europe, and the momentum gathering within the EU to address a significant risk to their burgeoning auto industry.
“San Jose is ideally placed to supply Europe with a significant volume of lithium chemicals in addition to the utilisation of the raw material resource.
“It benefits from the availability of key infrastructure located adjacent to the project area, ensuring the availability of a sustainable source of product with an environmentally advantageous carbon footprint.”
Supplying battery grade chemicals to the EU
Infinity’s San Jose Lithium Project contains the European Union’s second largest JORC lithium resource.
The project is projected to produce up to 15,000 tonnes per annum of battery grade lithium chemicals for more than 24 years.
It is well positioned to supply battery grade chemicals into the European market.
Recent European report recognises lithium importance
Earlier this week, the European Commission (EC) published the fourth State of the Energy Union report.
The EC presented forward visions including one on the strategic batteries plan for Europe.
It readily acknowledged the strategic imperative of the lithium-ion battery (LIB) market within Europe that will be required to drive the ongoing clean energy and mobility transitions.
EU must step up investment and innovation
They note that “the European market potential could be worth up to EUR 250 billion annually from 2025 onwards” however that “if no action is taken to support the creation of a viable battery manufacturing sector, there is a risk that Europe falls irreversibly behind its competitors in the global batteries market, and becomes dependent on imports of battery cells and raw materials used in the supply chain.”
Furthermore, the EC has identified that LIBs strategic importance “where the EU must step up investment and innovation in the context of a strengthened industrial policy strategy aimed at building a globally integrated, sustainable and competitive industrial base.”