GCIBlencowe joins European Commission consortium to supply graphite concentrate for EV buses
Blencowe Resources () has accepted an invitation to join the prestigious international SAFELOOP consortium, managed under the European Commission's €100 billion Horizon Europe Programme, which is focussed on the European Union's renewable energy transition.
SAFELOOP positions Blencowe’s Orom-Cross graphite project in Uganda as a critical supplier in the European electric vehicle supply chain.
Blencowe will have exclusive access to premium pricing contracts, large-scale offtake commitments of up to 100,000 tonnes annually, and strategic partnerships with tier-one European gigafactories and EV manufacturers.
These strategic advantages highlight the significance of Orom-Cross as a major project and positions Blencowe to play a pivotal role in the growing demand for critical EV materials.
Blencowe's US technical partner, American Energy Technologies Co. (AETC), will play a pivotal role in processing Orom-Cross graphite into battery-ready anode active materials. This collaboration will ensure high-quality, fully integrated production within SAFELOOP.
AETC has conducted over 24 months of rigorous testing on Orom-Cross end-products in the United States, including pilot-scale and production-scale work. Anode materials will be produced and delivered by AETC to the SAFELOOP-designated Gigafactory in Turkey. This factory will manufacture third generation lithium ion batteries.
"We are delighted to join the high profile SAFELOOP Project, positioning Blencowe at the heart of Europe's transition to renewable energy,” said executive chairman Cameron Pearce.
“Being chosen as the exclusive natural flake graphite concentrate supplier for SAFELOOP provides a potentially huge offtake opportunity ahead that can provide a valuable annuity income stream for our Company and long term value for shareholders. This selection is a testament to the high quality of Orom-Cross and the critical role it will play in the EV supply chain. The association with SAFELOOP also opens significant opportunities for Blencowe to further strengthen its position as a leader in the global graphite market, and, once again, setting our project and our company apart from our peers."
View from Vox
Access to a major European market for the Orom-Cross graphite product is a major tick in the box for Blencowe. The uncertainty of selling product into the major Asian markets is effectively mitigated, there’s visibility in the supply chain, and the buyer couldn’t be more blue-chip. That in turn redounds to the quality of Orom-Cross, given that the European Commission wouldn’t have struck such a deal without a fair amount of due diligence. How big will Orom-Cross eventually get? That remains to be seen, but it’s a project with huge potential, and some pretty serious people are now beginning to realise it.
Watch the Vox Markets interview with Blencowe chief executive Mike Ralston here:
https://www.voxmarkets.co.uk/articles/interview-with-mike-ralston-ceo-of-blencowe-resources-59b4c8a
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