Britishvolt is partnering with Glencore for the supply of cobalt.
As part of the deal, Glencore has also made an undisclosed investment into Britishvolt.
“This is a huge step in the right direction for Britishvolt as we look to accelerate the transition to a low carbon society,” said Britishvolt CEO and founder, Orral Nadjari.
“By partnering with Glencore, we are locking in supply and de-risking the project.
“At the very heart of our business are our core ESG principles and commitments. Cobalt is a key ingredient in electric vehicle batteries and knowing we are being supplied with responsibly produced cobalt is a signal to the market we are living by our values.
“We believe to be a true pioneer in the battery cell manufacturing industry, Britishvolt must lead by example and ensure its supply chains are as ethical, low carbon and sustainable as is possible.”
For his part, Glencore head Cobalt Trader, David Brocas, added: “Our commitment to support our partners in meeting their requirements for essential battery ingredients is key to underpinning long-term supply agreements.
“As the mobility and energy transition accelerates, so does future demand for battery metals such as cobalt, copper and nickel. Glencore is already a leading producer and supplier of these metals, helping to underpin our ambition of achieving net zero total emissions by 2050.”
The development will bring around 3,000 direct jobs and another 5,000 plus in associated supply chains.
Britishvolt maintains it is on target to manufacture low carbon battery cells on the site of the former Blyth Power Station coal stocking yard located in Cambois, Northumberland.
The project will be built in three phases each of 10GWh to a total capacity of 30GWh by end-2027 onwards.
Once at full capacity, the gigaplant will have a production capability equating to enough cells for around 300,000 electric vehicle battery packs per year, intended primarily for the automotive industry.
It will be the first, large full-cycle gigaplant in the UK.