Galp scraps joint venture plans with Northvolt

Galp states in a press release that Northvolt informed Galp in early 2024 of its decision to cease investing in the Aurora project. Since then, the Portuguese company has sought to identify new international partners, but without success.

Since 2021, Aurora has been working to establish a lithium conversion plant in Setúbal, aiming to supply the battery industry by leveraging Portugal's lithium reserves.

"Despite significant efforts, which included assembling a qualified team, conducting engineering studies, preparing licensing processes, and seeking incentives and funding, the current context and the inability to count on an international partner make it impossible to continue with the project," the company writes in the press release.