Talga signs binding Vittangi anode offtake agreement
Battery materials company Talga Group announces the execution of a binding offtake agreement with Nyobolt, a pioneer of high-power, ultra-fast battery charging technologies, for a multi-year supply of Talnode®-C graphite anode from the Company’s wholly owned Vittangi Anode Project in Sweden.
Nyobolt has validated Talnode-C as a feedstock for its proprietary fast-charging battery technology and the offtake agreement follows Talga’s vertically integrated natural graphite mine and anode refinery being designated as Strategic Projects under the European Commission’s Critical Raw Materials Act and the EU Net-Zero Industry Act.
Nyobolt’s fast-charge systems are now being deployed in an expanding range of applications including high-performance and heavy-duty vehicles, AI warehouses and data centres. With over $150 million in contract value already secured plus recent investment from Scania Invest to fuel further expansion, Nyobolt has placed a growing emphasis on developing robust supply chains.
Under the offtake agreement, Nyobolt commits to purchasing ~3,000 tonnes total of Talnode®-C at a fixed price for an initial term of four years commencing from 13 May 2025. Initial supply will be from Talga’s Electric Vehicle Anode (EVA) demonstration plant in Luleå, with the balance to be from the commercial Anode Refinery in Luleå, planned for construction to commence in 2026 subject to FID.
The offtake agreement is subject to commercial production milestones being achieved. Should Nyobolt or the Company not achieve its forecast volumes under the offtake agreement the parties will renegotiate the terms of the offtake agreement.
Talga is currently engaged with a number of other targeted high-value customers to secure purchase commitments for remaining Talnode®-C production capacity, further strengthening the commercial foundation of the Vittangi Anode Project.
Talga Group CEO, Martin Phillips, commented: “This Agreement marks a significant milestone in Talga’s mission to deliver sustainable, high-power anode materials to the global battery market.
The Agreement also underpins the start of commercial sales, and follows extensive qualification and validation in exciting high-power applications that are subject to high growth market demand.”
Nyobolt CEO, Dr Sai Shivareddy, commented: “Our partnership with Talga represents a strategic pillar in Nyobolt’s globally diversified sourcing approach to enhance operational efficiency and mitigate supply chain risk as it scales its game-changing battery technology. Nyobolt is evolving rapidly as more customers seek high performance and maximum uptime for a growing range of power-intensive applications.”
