Canada-based NextSource Materials and Mitsubishi Chemical, Japan’s largest chemical company and a supplier of anode active material (AAM), have entered a binding offtake agreement to supply a major OEM for the North American EV market.
NextSource will produce and supply 9,000 tons of its intermediate SuperFlake AAM annually to Mitsubishi Chemical’s Japan plant where it will produce final AAM for the OEM’s EV battery cell manufacturing facilities in North America.
The term of the agreement will start from the commencement of production of NextSource’s battery anode facility. The contract will help accelerate the development of the company’s planned facility in the Middle East, which is targeting a full-scale ramp-up from 2027.
NextSource is prioritizing the development of the facility to meet the volumes required for Mitsubishi Chemical and has identified several prospective sites in the United Arab Emirates (UAE). NextSource has started preparations to expand its Molo mine operations to ensure sufficient and secure graphite feedstock supply to support the offtake agreement.
“This partnership underscores our commitment to delivering sustainable, high-performance anode materials to meet the growing demand from OEM and battery manufacturers. By integrating resource supply with advanced processing capabilities, we are building a resilient and scalable solution that supports global electrification efforts,” said Hanré Rossouw, President and CEO of NextSource.
Source: NextSource Materials
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