CNGR, Al Mada launches Morocco battery project
Al Mada, a Morocco-based investment fund, and CNGR Advanced Material Company, a Chinese battery giant, have partnered and launched a battery project in Morocco.
The two are set to build an industrial base for battery parts production and recycling in Morocco with an aim of developing a sustainable battery supply chain for electric vehicles (EVs) and other applications. The project will be set up in Jorf Lasfar port and construction is scheduled for next year. It will be developed in phases.
Project’s objective
Once completed, the project aims to supply battery cathode active materials to over 1 million EVs per year, with a designed capacity of 120,000 tons per year for pCAMs, 60,000 tons per year for lithium iron phosphate, and 30,000 tons per year for black mass recycling.
CNGR’s subsidiary, CNGR Morocco New Energy, will hold a 50.03% stake in the JV, while Al Mada’s subsidiary, NGI, will hold 49.97%. Cathode active materials (CAMs) are crucial components of lithium-ion batteries, influencing their performance, efficiency, cost, and other factors. pCAM, a precursor material, accounts for a significant portion of the monetary value of the cathode active material and, in turn, contributes to the value of the final battery.
The companies are in talks with Morocco’s state-owned OCP Group to secure a supply of minerals needed for battery production. Morocco is a major global producer of phosphate salts, with significant reserves. The demand for ternary precursor materials has increased, driven by growing demand from the electric vehicle and lithium-ion battery sectors.
