- Talga Group (TLG) secures a €150 million (A$239 million) senior debt funding from the European Investment Bank (EIB) to fund the company’s Vittangi anode project in Sweden
- The project will use 100 per cent renewable electricity to manufacture 19,500 tonnes per annum of green anode for lithium-ion batteries
- Vittangi is expected to create hundreds of local jobs and help Europe transition to cleaner energy
- Talga’s project allows the company to make a multi-decade commitment to the net-zero transition to Europe’s automotive industry
- Shares are up 6.98 per cent, trading at $1.38 at 12:45 pm AEST
Talga Group (TLG) has secured €150 million (A$239 million) senior debt funding from the European Investment Bank (EIB) to fund the company’s Vittangi anode project in Sweden.
The project will use 100 per cent renewable electricity to manufacture 19,500 tonnes per annum of green anode for lithium-ion batteries used in electric vehicles.
Expecting to create hundreds of local jobs, the project will also aid the country’s transition to a cleaner energy and reduce Europe’s reliance on importing materials for electric vehicle batteries.
“The EIB approval represents a key milestone for Talga, corner-stoning our debt financing package and affirming the underlying strength of our business and capabilities to produce world-class critical battery materials in Europe,” Talga Managing Director Mark Thompson said.
The EIB is one of the worlds largest climate finance providers, working towards building a cleaner future.
Talga’s project help contribute to the European Commissions Net-Zero Industry and Critical Raw Materials Acts, which aim to produce essential materials with minimal environmental impact.
Talga’s project allows the company to make a multi-decade commitment to the net-zero transition to Europe’s automotive industry.
Talga shares were up 6.98 per cent, trading at $1.38 at 12:45 pm AEST.