Westwater Resources Enters Joint Development Agreement with SK On
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Westwater Resources has entered into a joint development agreement (JDA) with SK On, a leading electric vehicle battery manufacturer, supplying electric vehicle batteries to Ford, Hyundai, Volkswagen, and others.
Under the JDA, the two companies will work together to develop environmentally responsible, high performance anode materials customized for SK On batteries. Upon the successful completion of the development effort, the parties expect to negotiate another agreement that may allow for the sale of potentially all Coated Spherical Purified Graphite (CSPG) anode material from the Kellyton Graphite Processing Plant.
“The JDA with SK On is another major advancement in Westwater’s graphite business, and we are extremely excited to partner with a leading global battery manufacturer,” said Terence Cryan, Westwater’s executive chairman.
“Following the passage of the Inflation Reduction Act, many battery manufacturers have sought to secure North American anode material from our Kellyton plant,” added Cryan.
“SK On has been pursuing strategic partnerships to secure high-quality battery raw materials to support our growing U.S. manufacturing base,” said Sun Heeyoung, SK On vice president in charge of advanced research.
“With this agreement, we will continue to strengthen our materials supply chain in North America and ensure we can help meet the increasing demand for electric vehicles in the U.S.,” added Heeyoung.
Westwater Resources is an energy technology company that is focused on developing battery-grade natural graphite. Westwater Resources’ primary project is the Kellyton Graphite Processing Plant that is under construction in east-central Alabama. In addition, Westwater Resource’s Coosa Graphite Deposit is the most advanced natural flake graphite deposit in the contiguous United States and is located across 41,965 acres in Coosa County, Alabama.
SK On is a global leading electric vehicle (EV) battery developer, manufacturer, and solutions provider whose mission is to make the world a cleaner and more convenient place as an electrification linchpin. SK On was launched as an independent company in October 2021 after SK Innovation, South Korea’s largest energy company, decided to split off its battery business unit. SK On aims to become a world leader in the clean energy industry by leveraging its global production base and R&D capabilities, as well as its production and quality management know-how. Headquartered in Seoul, South Korea, SK On has a worldwide presence with battery plants currently operating or in construction across the United States, Europe, and Asia.
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