RCS - COBCO - COBCO signed an agreement with Umicore
28/03/2025 19:45
For best results when printing this announcement, please click on link below: https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250328:nRSb7870Ca&default-theme=true RNS Number : 7870C COBCO 28 March 2025 COBCO and Umicore Sign Strategic Supply Agreement for Precursor Cathode Active Materials for Electric Vehicle (EV) Batteries JORF LASFAR, Morocco, March 28, 2025/APO Group/ -- COBCO, the battery materials joint venture between AL MADA and CNGR Advanced Materials, has signed a strategic long-term supply agreement with Umicore, a global leader in circular materials technology, for the delivery of precursor cathode active materials (pCAM) to be used in electric vehicle (EV) batteries. Under the terms of the agreement, COBCO will supply high-performance NCM pCAM from its newly commissioned production facility at Jorf Lasfar, Morocco. These materials will feed Umicore's cathode active material (CAM) production lines, supporting its international customer base and contributing to the advancement of sustainable mobility in Europe and beyond. This partnership underscores the growing momentum behind building a robust, transparent, and low-carbon battery value chain in the EMEA region. COBCO's state-of-the-art plant operates to the highest environmental and quality standards, leveraging Morocco's renewable energy potential to significantly reduce the carbon footprint of its products. "This agreement marks a significant milestone in COBCO's ambition to become a strategic supplier of low-carbon, high-quality battery materials to global leaders in electromobility," said Allen Luo, CEO of COBCO. "We are proud to contribute to Umicore's responsible sourcing and circularity commitments while anchoring critical battery materials production in Morocco." Commissioned in early 2025, COBCO's first production lines represent the foundation of a broader industrial development program. In addition to NCM pCAM, the company is expanding into Lithium Iron Phosphate (LFP) cathode materials and black mass recycling-creating an integrated and circular battery materials ecosystem with a total capacity equivalent to 70 GWh, enough to power over 1 million EVs per year. Distributed by APO Group on behalf of COBCO. Download image : https://apo-opa.co/3RmPpPE (https://apo-opa.co/3RmPpPE) (Image caption : COBCO has already commissioned its first batch of production lines and is anchoring critical battery materials production in Morocco) For more information on COBCO: Investor Relations Hugo Mo motan@cngrgf.com.cn (mailto:motan@cngrgf.com.cn) Media Relations Lyu Min lyumin@cobco.tech (mailto:lyumin@cobco.tech) About COBCO: COBCO is a joint venture between AL MADA, a leading pan-African investment fund, and CNGR Advanced Materials, a global leader in advanced lithium-ion battery materials. Based in Morocco, COBCO is developing one of the region's most advanced battery materials hubs, focused on sustainability, innovation, and regional value creation. This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com (mailto:rns@lseg.com) or visit www.rns.com (http://www.rns.com/) . RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy) . END NRASEWFAAEISEED