[vc_section][vc_row][vc_column width=”1/6″][/vc_column][vc_column width=”1/2″][vc_row_inner][vc_column_inner][vc_empty_space][vc_column_text]
Battery materials company Talga Group announces that the European Investment Bank (“EIB”) board has approved €150 million senior debt funding to underpin Talga’s Vittangi Anode Project in Sweden.
[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_empty_space height=”10px”][vc_row_inner][vc_column_inner width=”2/3″][widget-SocialWidget][/vc_column_inner][vc_column_inner width=”1/3″][link url=”https://www.miningmetalnews.com/20230621/2749/eib-funding-approval-talgas-swedish-battery-anode-project” content_text=”News source”][/vc_column_inner][/vc_row_inner][vc_empty_space][vc_column_text]
The Project will use 100% renewable electricity to produce an initial 19,500tpa of green anode for lithium-ion batteries from an integrated mine and anode refinery operation in northern Sweden
The Project is expected to create hundreds of jobs locally, contribute to Sweden’s efforts to transition to a clean energy economy and help reduce Europe’s reliance on imported battery materials for electric vehicles (EVs).
Talga is targeting Project debt gearing of up to 60% and the EIB’s financing, subject to final negotiations, will form part of the debt financing package being finalised with multiple leading export credit agencies, commercial banks and international financial institutions. Following this approval, loan documentation is being agreed between the EIB and Talga, including customary terms and conditions for a financing facility of this nature.
As the lending arm of the European Union, the EIB is one of the world’s largest providers of climate finance. The EIB’s approval follows extensive project due diligence, including market, technical, environmental and social due diligence.
Talga Managing Director, Mark Thompson, commented: “We are very pleased to have the support of the European Investment Bank as we move to execution phase of the Vittangi Anode Project. The EIB approval represents a key milestone for Talga, cornerstoning our debt financing package and affirming the underlying strength of our business and capabilities to produce world-class critical battery materials in Europe.”
[/vc_column_text][vc_empty_space][epic_post_tag compatible_column_notice=”” font_size=”17px”][/vc_column][vc_column width=”1/6″][vc_text_separator title=”LATEST NEWS” color=”juicy_pink”][vc_empty_space height=”10px”][widget-LatestPosts post_number=”4″][vc_empty_space height=”10px”][vc_text_separator title=”MOST POPULAR” color=”juicy_pink”][vc_empty_space height=”10px”][widget-popular-posts post_count=”4″][vc_empty_space][vc_wp_search title=”Search”][vc_empty_space][lvs display_like=””][/vc_column][vc_column width=”1/6″][/vc_column][/vc_row][/vc_section][vc_section][vc_row][vc_column][distance desktop_type=”50″][/vc_column][/vc_row][vc_row][vc_column width=”1/2″][epic_block_28 compatible_column_notice=”” number_post=”6″ post_offset=”0″ first_title=”You may also like”][/epic_block_28][vc_empty_space][/vc_column][vc_column width=”1/2″][epic_hero_5 compatible_column_notice=”” hero_margin=”0″ content_filter_number_alert=”” post_offset=”0″][/vc_column][/vc_row][/vc_section]