Stellantis, Kuniko Partner for Green Nickel Supply
Stellantis and Kuniko have joined forces in a transformative move towards sustainable energy storage solutions. They recently signed a binding offtake term sheet agreement, securing a 35% future production offtake of nickel sulphate and cobalt sulphate from Kuniko's Norwegian exploration projects for nine years.
To solidify their partnership, Stellantis also agreed to invest €5.0 million (A$ 8 million) in new equity in Kuniko, resulting in a 19.99% shareholding and the right to nominate one director to the Kuniko board.
Maxime Picat, Stellantis Chief Purchasing and Supply Chain Officer expressed their commitment to meeting Dare Forward 2030 electrification targets and praised Kuniko's environmentally conscious solution from its Norwegian projects, supporting European battery needs.
Kuniko CEO Antony Beckmand echoed the sentiment, highlighting the strategic importance of the partnership in promoting sustainable battery value chain solutions in Europe and validating the potential of their battery metals project portfolio in Norway.
The funds from the equity purchase will be directed towards advancing Kuniko's battery metals exploration projects, including nickel, cobalt, and copper.
As part of their Dare Forward 2030 plan, Stellantis aims to achieve a 100% passenger car battery electric vehicle (BEV) sales mix in Europe and a 50% BEV sales mix for passenger cars and light-duty trucks in the United States by 2030. Furthermore, Stellantis is on track to become a carbon-neutral corporation, covering all scopes, by 2038.
The completion of the binding offtake and share subscription agreements is contingent on customary closing conditions and regulatory approvals.
Stellantis continues to build a network of partnerships to secure a stable supply of essential materials for its electrified future. Alongside Kuniko, the company has agreements with Alliance Nickel, McEwen Copper, Terrafame, Vulcan Energy, Element 25, and Controlled Thermal Resources.
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Source: Stellantis
