Partnership Announcement

• • • Viridian Lithium entered into exclusive discussions to convert and refine up to 6,000 tonnes per year of battery grade lithium hydroxide monohydrate for Verkor from 2026 onwards.
    • Viridian Lithium’s battery grade lithium products are expected to have the lowest CO2 intensity in the world.
    • Viridian Lithium contributes significantly to meeting the objectives of the European Critical Materials Act

THE FIRST LITHIUM TOLLING PARTNERSHIP IN EUROPE

Viridian Lithium is pleased to announce that the company entered into exclusive negotiations with Verkor for the first lithium tolling partnership of its kind in Europe. From 2026, Viridian Lithium will convert and refine up to 6,000 tonnes per year of battery grade lithium hydroxide monohydrate for Verkor.

The parties are actively
working on a legally binding tolling agreement to be announced in the following months.

A COMMITMENT TO A LOW-CARBON SUPPLY CHAIN

Thanks to the French low-carbon energy mix and an innovative industrial approach, Viridian Lithium is expected to produce battery-grade lithium chemicals with the lowest carbon intensity in the world.
At present, the supply of lithium hydroxide for NMC lithium-ion battery cells comes almost exclusively from ore concentrates, requiring carbon-intensive pyrometallurgical conversion processes. To bring a low-carbon solution to the European value chain, Viridian Lithium will focus on refining and converting low-carbon lithium salts, with innovative and efficient purification, conversion and recovery processes.
This first of its kind agreement in Europe, will allow Verkor to integrate Viridian Lithium’s battery grade lithium products into its manufacturing process, therefore maintaining the quality of their high-performance battery cells, while contributing once again to lowering the overall carbon footprint of their final product.

REFINING: A KEY ENABLER OF LITHIUM SOURCING

Access to localized lithium refining capacity will enable Verkor to access a much wider source of potential lithium feedstock.

This innovative approach is essential to the build out of a robust and sustainable supply chain for critical battery materials.

FRANCE: A LEADING PLAYER IN THE EUROPEAN BATTERY INDUSTRY 

The French ecosystem for lithium-ion battery manufacturing is becoming one of the most significant in the world.

With the combination of battery cell manufacturing and recycling, cathode active materials production and lithium refining, France is a proud illustration of the ambitions set by the European Critical Materials Act.

About Viridian Lithium

Founded in October 2021 in Strasbourg, Viridian Lithium is committed to building the first independent lithium refining and conversion plant in France. Viridian Lithium is part of the national strategy for batteries of France 2030.

About Verkor

Founded in July 2020, Verkor is a French industrial company based in Grenoble. Supported by the EIT InnoEnergy, IDEC Group, Schneider Electric, Capgemini, Renault Group, EQT Ventures, Arkema, Tokai COBEX, the FMET managed by Demeter, Sibanye-Stillwater, Plastic Omnium and Bpifrance. The company is accelerating the production of low-carbon
batteries in France and Europe to meet the growing demand for electric vehicles, electric mobility in general and stationary storage in Europe.

Verkor is developing an attractive business model in terms of agility, sustainability, and governance, thereby attracting the best talent. A strong and agile team continues to grow to meet new challenges. The Verkor-led project is unifying, bringing together the best partners to locate the entire value chain in Europe, ensuring optimal use of skills and resources. Thanks to these strengths, Verkor will open its fully digital 4.0 pilot line in 2023. A model of excellence, competitiveness and resource utilisation, this innovation will be integrated into the Gigafactory planned for 2025