Leading global manufacturer of nickel products Vale and Northvolt AB, a lithium-ion battery manufacturer, announced a multi-year agreement for the supply of low-carbon nickel products.
According to the official announcement, the agreement reiterates the companies’ shared commitment to sustainability in the electric vehicle supply chain and the electrification of the broader mining industry.
“This supply agreement is another strategic milestone as we pivot our business towards electric vehicle demand,” said Deshnee Naidoo, Vale’s executive vice president of Base Metals.
“We’re excited to build a lasting relationship with Northvolt that raises the bar on sustainably sourced raw materials for this fast-growing sector.”
As part of its dedication to reach net zero emissions by 2050, Vale intends to invest between $4 billion and $6 billion to reduce absolute carbon emissions by 33 percent by 2030. By 2035, Vale plans to eliminate 15% of its value-chain emissions.
Northvolt plans to rise the sustainability bar for battery manufacturers by reducing carbon emissions by up to 90% compared to benchmark batteries today, particularly through the use of clean energy in manufacturing and recycling.
“Northvolt was founded with the mission to build the world’s greenest battery to enable the transition to electrification. We want to build batteries with a minimal CO2 footprint using clean energy and smart technology,” said Maria Åstrand, Northvolt’s Vice President Active Materials.
“This partnership is perfect for us to be able to reach that ambition. We are further excited by the prospect of closing the loop with the electrification of the nickel mining industry through our mutual partners that provides electric mining equipment.”
