Portuguese oil and gas company Galp is joining forces with Swedish battery start-up Northvolt to develop Europe’s largest lithium processing plant as part of a shift away from fossil fuels.
The 50-50 joint venture called Aurora will target annual production of 35,000 tonnes of battery-grade lithium hydroxide, enough for 50 GWh of battery capacity, which could power about 700,000 electric vehicles.
The plant will be in Portugal, the site of western Europe’s largest lithium deposit, with total investment of up to €700m, “based on similar projects”, and creating as many 1,500 jobs, the companies said.
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