Galp and Northvolt to build advanced lithium conversion unit
Galp and Northvolt have selected the port city of Setúbal, Portugal as the location for their Aurora lithium conversion plant.
Based on similar projects, it is expected that some EUR 700 million will be invested into the project, which the companies says will create around 200 direct and 3,000 indirect jobs, a press release reads.
The plant, which the companies claim will be one of Europe’s largest, is set to have an initial annual production capacity between 28,000 and 35,000 tons of battery-grade lithium hydroxide – a material required by the lithium-ion battery manufacturing industry, which is expected to grow significantly by 2030. The plant will use a proven conversion process, leveraging recent process improvements and technologies to increase its sustainability and efficiency.
A final investment decision is yet to occur, but the JV is envisaging a start of operations by the end of 2025 and start of commercial operations in 2026.
According to the press release, the plant will be able to deliver lithium hydroxide sufficient for 50 GWh of battery production per year – which is sufficient for more than 700,000 electric vehicles. As part of the JV agreement, Northvolt will secure an offtake for up to 50% of the plant’s capacity for use in its battery manufacturing.