Brief: Avalon, LG Energy Solution Sign MoU To Accelerate Ontario's Lithium Battery Materials Supply Chain

Avalon Advanced Materials

22/09/2022 23:12

Sept 22 (Reuters) - LG Energy Solution Ltd  373220.KS :
    * AVALON AND LG ENERGY SOLUTION SIGN MEMORANDUM OF
UNDERSTANDING
TO ACCELERATE ONTARIO'S LITHIUM BATTERY MATERIALS SUPPLY CHAIN
    * AVALON ADVANCED MATERIALS INC- PLANS TO ESTABLISH A
REGIONAL
LITHIUM BATTERY MATERIALS SUPPLY CHAIN IN ONTARIO
    * AVALON ADVANCED MATERIALS INC - SIGNED MOU WITH LG ENERGY
SOLUTION TO SUPPLY LGES WITH A BATTERY-GRADE LITHIUM HYDROXIDE
STARTING IN 2025
    * AVALON ADVANCED MATERIALS INC - PURSUANT TO MOU, PARTIES
WILL
CONTINUE DISCUSSIONS TO ENTER INTO A DEFINITIVE SUPPLY AGREEMENT
    * AVALON ADVANCED MATERIALS INC - DISCUSSIONS TO ENTER INTO
A
DEFINITIVE SUPPLY AGREEMENT IS INTENDED TO BE FINALIZED IN NO
LATER THAN 6 WEEKS
    * AVALON ADVANCED MATERIALS INC- PURSUANT TO MOU, PARTIES
WILL
CONTINUE DISCUSSIONS TO ENTER INTO A DEFINITIVE SUPPLY AGREEMENT
    * AVALON ADVANCED MATERIALS- CO TO COMMIT TO PROVIDE LGES
WITH AT
LEAST 50% OF PLANNED INITIAL LITHIUM HYDROXIDE PRODUCTION FROM
THUNDER BAY FACILITY
    * AVALON ADVANCED MATERIALS INC - UNDER TERMS OF MOU, AVALON
WOULD
COMMIT FOR FIVE YEARS INITIALLY TO LGES

Source text for Eikon:  ID:nPn3HxV9ka 
Further company coverage:  373220.KS 
 ((Reuters.Briefs@thomsonreuters.com;))