Patriot Battery Metals’ Post

Pivotal moment for PMET. Join us for the webinar and you can send me your questions in advance!

Today marks a very important day for us as a company. We are excited to share a major milestone in Patriot Battery Metals journey to becoming a global lithium leader. Today, we announced a C$69 million strategic investment from Volkswagen Group a key step in positioning the Shaakichiuwaanaan Lithium Project as a cornerstone of the North American and European EV battery supply chains. Key Highlights: Investment Details: Volkswagen Group, through Volkswagen Finance Luxemburg S.A., will acquire a 9.9% equity stake in Patriot at C$4.42 per share, representing a 65% and 35% premium to the 30-day and 90-day volume-weighted average price. Proceeds will be used to advance exploration, development, and feasibility studies for the Shaakichiuwaanaan Project. Long-Term Offtake Agreement: Binding commitment to supply 100,000 tonnes of spodumene concentrate annually over a 10-year term to Volkswagen's wholly-owned battery manufacturer, PowerCo SE. The offtake will serve PowerCo's cell production in Europe and North America, including its battery cell factory in St. Thomas, Canada, capable of producing batteries for over one million EVs annually. Strategic Partnership: A Memorandum of Understanding (MoU) with PowerCo to explore shared opportunities, including potential downstream chemical conversion facilities, midstream cost-reduction initiatives, and advancing ESG leadership. This landmark partnership validates the world-class nature of our Shaakichiuwaanaan Lithium Project and underscores the strategic importance of creating a sustainable and competitive battery supply chain. We are proud to welcome Volkswagen and PowerCo as long-term partners and look forward to advancing this collaboration to deliver value to our stakeholders. Furthermore, we will be hosting a Webinar at 8AM EST today, December 18th, with Ken Brinsden to discuss this very important milestone. Questions can be submitted in advance via email to ocazalapointe@patriotbatterymetals.com and please use the link below to register: https://lnkd.in/ew9pxhTn 📖 Learn more: https://lnkd.in/edQCHaxb #BatteryMetals #EVs #StrategicPartnerships #Lithium #Sustainability

Volkswagen Group tekee strategisen investoinnin kanadalaisen yhtiön litiumhankkeeseen Quebecissä: "The Volkswagen Group and its battery subsidiary PowerCo are investing directly in the lithium supply chain for the first time, buying a 9.9 per cent stake in Patriot Battery Metals for $48 million. The company plans to start industrial lithium production at its Shaakichiuwaanaan project in Quebec, Canada, soon. The investment in Patriot Battery Metals is not just a financial investment. It is a strategic partnership, as the deal also includes a long-term supply commitment to secure PowerCo’s lithium supply. The binding supply commitment covers 100,000 tonnes of spodumene concentrate per year for ten years, effective from the start of production at the Shaakichiuwaanaan project." #kriittisetmateriaalit #litium #volkswagen #investoinnit #offtake #supplycommitment #PatriotBatteryMetals #kanada https://lnkd.in/dzjwVREd

Volkswagen Group acquires stake in Canadian lithium company for PowerCo The Volkswagen Group and its battery subsidiary PowerCo are investing directly in the lithium supply chain for the first time, buying a 9.9 per cent stake in Patriot Battery Metals for $48 million. The company plans to start industrial lithium production at its Shaakichiuwaanaan project in Quebec, Canada, soon.

Volkswagen is securing its future lithium supply chain by partnering and investing in the North American market. The acquired stake represents a 65% and 35% premium to the 30-day and 90-day volume-weighted average prices, respectively “The Volkswagen Group and its battery subsidiary PowerCo are investing directly in the lithium supply chain for the first time, buying a 9.9 per cent stake in Patriot Battery Metals for $48 million” #Volkswagen #PowerCo #Patriot Battery Metals #EVsupplychain

PowerCo has formed a strategic partnership with Patriot Battery Metals to secure a long-term lithium supply. The agreement includes an annual supply of 100,000 tonnes of spodumene concentrate over ten years from the Shaakichiuwaanaan project, a premier lithium deposit in the Americas. This partnership aims to support PowerCo's cell factories in Europe and North America, bolstering its role in the global EV supply chain.  Spodumene concentrate, a vital material for lithium-ion batteries, will be utilized in PowerCo’s production facilities, including its upcoming factory in St. Thomas, Canada, which will have a 90 GWh capacity at full scale. This agreement ensures a steady supply of raw materials critical to advancing cutting-edge battery technology and sustainable e-mobility solutions.  Volkswagen Group’s commitment reflects its broader strategy of building a dedicated e-mobility ecosystem in North America. Thomas Schmall, Volkswagen Group Board Member for Technology, emphasized the importance of securing resources for innovative and sustainable battery solutions, reinforcing their North American operations.  Jörg Teichmann, PowerCo’s Chief Procurement Officer, highlighted the deal as a step toward establishing a resilient battery supply chain in North America, ensuring a sustainable and robust industry aligned with the needs of the EV ecosystem in Europe and beyond.  The partnership includes PowerCo’s support for developing the Shaakichiuwaanaan project, one of the largest lithium pegmatite deposits globally, underlining Patriot Battery Metals' significant role in the future EV industry. CEO Ken Brinsden underscored the collaboration as recognition of the project’s world-class status and its critical contribution to the burgeoning EV supply chain.  https://lnkd.in/deHrFnVn #automotiveindustry #electricvehicles #china #europe #canada Tesla BYD MG Motor Europe

At GM, we're driving towards an all-electric future with four key battery technology goals: enhancing safety, building on our cell cost leadership in North America, expanding local production, and boosting performance including fast charge capabilities and energy density. A resilient U.S. supply chain for battery materials is essential to achieving these. That’s why this week’s news about our joint venture with Lithium Americas is so impactful—it accelerates local sourcing of critical EV materials like lithium and reinforces GM’s road to an all-electric future. https://lnkd.in/graAkQ_X

Stellantis and CATL form joint venture to erect 50 GWh carbon-neutral LFP battery plant in EU European OEM Stellantis has announced a new joint venture with the world’s largest battery manufacturer CATL, to build a large-scale lithium iron phosphate (LFP) battery plant at one of the former’s existing production sites. Today’s joint venture announcement between Stellantis and CATL builds upon a Memorandum of Understanding (MoU) signed by both companies in the https://lnkd.in/gXnMgZ7W

Volkswagen Group Secures Lithium Supply in Landmark Partnership with Patriot Battery Metals In a groundbreaking move to bolster its electric vehicle (EV) ambitions, Volkswagen Group’s battery subsidiary, PowerCo SE, has announced a strategic partnership with Canadian lithium company Patriot Battery Metals Inc. This collaboration includes a US$48 million investment to acquire a 9.9% stake in Patriot Battery Metals, along with a binding commitment to source 100,000 tonnes of spodumene concentrate annually over the next decade from Patriot’s Shaakichiuwaanaan Project in Quebec, Canada. The Shaakichiuwaanaan Project, currently under development, is one of the largest lithium pegmatite resources in the Americas and ranks as the 8th largest globally. This deposit will supply critical lithium […] - https://lnkd.in/dmzXYPkR #automotive #evs #ev #electricmobility #emobility #ebikes #fleets #evfleet #evnews #autonews #electricvehicles #electricvehicle #automotiveindustry #automotivejobs #cleantech #cleanenergy #hydrogen #lithium #evbattery #sustainability #climatechange #collaboration #electricvehicles #europe #germany #lithium #mou #partnership #powercose #sustainability #volkswagen

Is $3B in additional funding for U.S. #evbattery development too little too late? While $3B might seem like a lot of money when announced as a press release, in contrast, China’s EV battery and #evcharging related OFDI (outward direct investment) for 2023 came in at $28.2B (>9X). Granted not all of that money was specifically for #batteryresearch but catching up, requires more than simply allocating more grants (#CATL & #BYD alone currently hold over 53% global market share for batteries). Since 2010, Chinese firms have filed over 41,000 patents related to electric vehicle charging and battery swapping, coupled with a strong command over a vertically integrated supply chain. While there is no doubt that the $3B funds will be eagerly consumed, accompanied by lots of strategic press releases along the way, it’s yet to be seen if the net result will move the needle for North American battery manufacturing.