IronRidge Resources joins European Battery Alliance

Highlights

• IronRidge accepted as a member of EBA250.
• The EBA250 network brings together interested stakeholders, industry specialists and participants from both the public and private sectors; a collaboration of more than 400 participants across the European Union's (EU) battery value chain.
• The unique network includes the European Commission, EU member states and the European Investment Bank, with the objective to build a strong pan-European battery industry that can help Europe capture a growing market expected to be worth €250 billion/y from 2025.
• Membership provides IronRidge with a unique insight into the ongoing activities of the rapidly developing EU battery sector including:
  • Access to a network of potential industrial, academic and government partners throughout the battery value chain (from mining to recycling).
  • Access to market research information and insights.
  • Holistic and dynamic observatory on battery projects.
  • Visibility and cooperation opportunities.
• Access to InnoEnergy Venture Capital Community and potential alternate funding sources.
• Credibility for funding requests and connection with EBA250 financial partners.

The EBA was launched in October 2017 by European Commission Vice President, Maroš Šefcovic. Its purpose is to ensure that all Europeans benefit from safer traffic, cleaner vehicles and more sustainable technological solutions. This will be achieved by creating a competitive and sustainable battery cell manufacturing value chain in Europe. The economic upside is clear: the market will have an estimated annual value of up to €250 billion by 2025. By combining European cutting-edge competences, financial strength and a cross-industrial approach, a competitive and sustainable production capacity is clearly within reach.

Thore Sekkenes, EBA250 Programme Director, said: "In welcoming IronRidge to the EBA250 club, we recognise the potential and emerging importance of the west African region as a stable supply of raw materials for the European battery industry."

Vincent Mascolo, CEO of IronRidge, added: "We are delighted to be accepted as a member of EBA250; a battery industry focussed network which will broaden our market exposure at a time when Europe is emerging as the next epicentre for the EV and stored energy sectors.

"With compelling benefits such as access to regulatory insights, business development opportunities and market intelligence, EBA250 membership will be highly valuable to the company as we continue to progress our Cape Coast Lithium Portfolio.

"We are confident in our project fundamentals, and the project's proximity to Europe is highly advantageous and may deliver multiple pathways through the value-adding vertical integration ambitions of the EU.

"We therefore look forward to a long and mutually beneficial relationship with the EBA250, and the contribution that IronRidge can make to the industry."

Read the article online at: https://www.globalminingreview.com/finance-business/27082020/ironridge-resources-joins-european-battery-alliance/