October 3, 2019: Umicore and LG Chem have concluded a multi-year strategic supply agreement for nickel manganese cobalt cathode materials to serve LG Chem’s needs out of Umicore plants in Poland, Korea and China. The supply agreement takes effect in 2020 and covers a total volume of 125,000 tonnes to be delivered over several years. The companies are also entering a technology licensing arrangement covering fundamental IP rights.
The technology agreement provides for a cross-licensing set-up allowing both companies to further assert their IP. Both companies will share user rights on a selection of fundamental global patents for different high-end NMC cathode materials used in automotive and energy storage applications.