Battery Materials Firm Talga Gets €150million Funding For Its Swedish Battery Project

Battery Materials company Talga has now bagged €150 million in senior debt funding from the European Investment Bank (EIB). This finding is meant for Talga’s Vittangi Anode Project in Sweden. 

As per the details, the project is set to use 100 percent renewable energy to produce 19,500 TPA of green anode for Lithium-ion batteries. It will be facilitated by an integrated mine and abode refinery operation in northern Sweden. The project will likely shun Sweden’s dependency on imported battery materials for Electric Vehicles (EVs) besides aiding in its clean energy growth.

EIB is considered one of the world’s largest lenders for climate finance. It approved the financing of projects after following technical, environmental, and other scrutiny. Talga said it is now moving towards the execution of the Vittangi Anode Project. It said the latest funding from EIB would help strengthen its capacities to produce world-class battery materials in Europe. 

In March 2023, the European Commission released its Net-Zero Industry Act proposal and a Critical Raw Materials Act. These proposals are targeted for the EU’s production of strategic technologies, including anode materials and extraction of critical raw materials. Talga, on the other hand, with its expertise in battery technology, is trying to cater to the battery market, where it could help in the net-zero ambitions of the European automotive market. 

Talga claims that it is a battery anode and advanced materials company that is working towards accelerating the global clean energy transition towards sustainable growth. it said that is main objective is to enable the world’s most sustainable battery and consumer products.