Blencowe Joins Elite European Consortium to Supply Graphite for EV Buses
Blencowe Joins Elite European Consortium to Supply Graphite for EV Buses

Blencowe Joins Elite European Consortium to Supply Graphite for EV Buses

  • 30-Nov-2024 12:30 AM
  • Journalist: Jacob Kutchner

Blencowe Resources has announced its acceptance into the prestigious SAFELOOP consortium, a key initiative under the European Commission’s €100 billion Horizon Europe Programme, aimed at advancing Europe’s renewable energy transition. This development marks a significant milestone for Blencowe and its Orom-Cross Graphite Project in Uganda, positioning the project as a crucial supplier within the European electric vehicle (EV) supply chain. The partnership provides Blencowe with exclusive access to premium pricing contracts, large-scale offtake agreements up to 100,000 tonnes annually, and collaborations with tier-one European gigafactories and EV manufacturers. These strategic advantages solidify Orom-Cross’s global importance and enable Blencowe to play a pivotal role in meeting the growing demand for critical EV materials.

Key Highlights of the partnership include:

Exclusive Supplier Role: Orom-Cross will be the sole supplier of natural flake graphite concentrate for the anodes of SAFELOOP’s Gen3 Li-Ion batteries, ensuring a high-quality source for this essential component.

• Premium Pricing: The graphite supplied through SAFELOOP is expected to fetch significantly higher prices than similar concentrates sold in Asian markets, enhancing the financial prospects for Blencowe.

Large-Scale Offtake: The program is set to require up to 100,000 tonnes of small flake graphite annually at full ramp-up, creating a valuable, long-term revenue stream for Blencowe.

Strategic Partnerships: Blencowe will work closely with a European gigafactory, an EV bus original equipment manufacturer (OEM), and other key partners, opening further opportunities for Orom-Cross.

Green Credentials: Orom-Cross graphite will undergo EU Green Passport evaluation, enhancing its appeal in future European and North American markets.

Blencowe’s U.S. technical partner, American Energy Technologies Co. (AETC), will play a central role in processing the Orom-Cross graphite into battery-ready anode active materials. This collaboration ensures high-quality, fully integrated production within SAFELOOP, aligning with the program’s objective to advance European Gigafactory-scale battery solutions. AETC has conducted over 24 months of rigorous testing on Orom-Cross graphite, confirming its exceptional quality for use in advanced lithium-ion batteries.

The processed anode materials will be delivered to the SAFELOOP-designated Gigafactory, ASPILSAN in Turkey, which will produce Gen3 Li-Ion batteries for BOZANKAYA, a specialist in EV buses. The exceptional quality of Orom-Cross graphite was a key factor in Blencowe being selected as the exclusive supplier for SAFELOOP, highlighting its critical role in high-performance battery anodes.

Executive Chairman Cameron Pearce expressed his excitement about the partnership, emphasizing that being chosen as SAFELOOP’s exclusive graphite supplier provides Blencowe with a substantial offtake opportunity and long-term value for shareholders. He also noted that this collaboration further strengthens the company's position as a leader in the global graphite market.

AETC’s Manager of Government Relationships, Anna Doninger, also praised the partnership, highlighting the high quality of Orom-Cross graphite and its alignment with the demands of European Gigafactories. Both Blencowe and AETC are optimistic about the success of this collaboration within the SAFELOOP program.

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