Latest news with #batteryMaterials
Bloomberg
08-07-2025
- Business
- Bloomberg
China's Huayou Cobalt Sees Record Profit Boosted by Indonesia
China's Zhejiang Huayou Cobalt Co. Ltd expects to report record half-year earnings, as it ramps up nickel projects in Indonesia and enjoys the tailwind from rising cobalt prices. The major battery materials supplier will post net income for January through June of between 2.6 billion yuan ($360 million) and 2.8 billion yuan, according to preliminary earnings posted on Monday. At the low end, that's a 56% jump from a year earlier.
Geek Wire
02-07-2025
- Business
- Geek Wire
Next-gen battery materials manufacturer Group14 lays off workers in Washington state
Sustainability: News about the rapidly growing climate tech sector and other areas of innovation to protect our planet. SEE MORE Group14 has delayed the start of production of its battery materials at its BAM2 facility in Moses Lake. (Group14 Photo) Next-gen battery materials manufacturer Group14 Technologies laid off an undisclosed number of workers as tariff uncertainties and new federal policies create significant obstacles for the clean energy sector. The company, which has facilities in Washington and South Korea, confirmed for GeekWire that it had taken steps on Tuesday to 'rebalance our workforce to ensure the long-term resilience and competitiveness of our business.' Group14 recently disclosed that it was delaying the start of production at its flagship battery materials plant in Eastern Washington's Moses Lake from an initial target of late 2024 to a start date in early 2026. 'Shifts in demand, and uncertainties in global trade relationships have impacted our industry,' said spokesperson Katie Rolnick by email. 'We are taking proactive steps to align our operations with current realities while positioning ourselves for future growth.' Rolnick added that the company is continuing to support its joint venture in South Korea with electronics company SK materials. That plant will begin operating at full capacity this month and its output will be available to Chinese customers, avoiding the impact of U.S tariffs. Group14's headcount is 400 people. The layoffs impacted only its U.S. workforce. The company has developed a silicon anode material for use in lithium-ion batteries that holds more power and requires less time for recharging. The product is suitable for use in electric vehicles, consumer electronics and utility-scale batteries that can help meet power demand for data centers. The Senate on Tuesday narrowly passed a massive domestic policy bill that slashes clean energy supports. The Senate's version of the legislation went slightly easier on battery, nuclear and geothermal projects than the previously approved House version of the bill. It retained a full tax credit for these projects if construction begins before the end of 2033, and phases out the credit completely by 2036. But the Senate took a harder line on a $7,500 tax credit to cut the cost of EVs for consumers, eliminating the break by the end of September, instead of the House deadline of the end of the year. The two chambers are aiming to finalize the bill this week. In a GeekWire interview last month, Group14 CEO Rick Luebbe shared areas of optimism for his company's prospects despite recent headwinds. Luebbe said global battery demand will continue long term and he was hopeful that data centers represent a large, new market for batteries. 'We are behind a whole new opportunity in advanced materials production for all kinds of applications that are really critical,' Luebbe said.
Geek Wire
24-06-2025
- Business
- Geek Wire
Tariffs slow Group14's battery production plans — but data center demand opens potential new growth
Sustainability: News about the rapidly growing climate tech sector and other areas of innovation to protect our planet. SEE MORE Group14 has delayed the start of production of its battery materials at its BAM2 facility in Moses Lake by more than a year. (Group14 Photo) Group14 Technologies is slowing the launch of its flagship battery materials plant in Eastern Washington, pushing the start of production to early 2026, as tariff tensions and uncertain U.S. policy cloud the outlook for clean energy manufacturing. Despite the delay, the company remains optimistic about long-term customer demand and a potentially huge new market for Group14's silicon anode product as data center operators are adding utility-scale batteries to their power supplies. 'We know that AI data centers are strategically critical to the United States' economy and this is just another technology that is enabling [AI expansion],' said Group14 CEO Rick Luebbe. The company is also waiting to see what happens with $100 million of U.S. Department of Energy funding that it was awarded in 2022 as part of the Bipartisan Infrastructure Act. The funding was meant to bolster America's battery manufacturing industry and challenge China's dominance in the field. Luebbe said he's 'confident' the money will be there given the jobs being created at the Moses Lake facility, which was expected to begin operations late last year. He did note that others have lost DOE funding as the Trump administration pulls resources from clean energy initiatives. Group14's technology is used in next-generation batteries that hold more power and require less time for recharging. The company has raised $649 million from investors and its headcount is 400 people. Luebbe cited multiple factors he believes are working in his 10-year-old company's favor: Data centers are adding batteries for rapidly available power when energy use spikes. In the U.S. alone, utility-scale battery storage capacity is anticipated to double this year. for rapidly available power when energy use spikes. In the U.S. alone, utility-scale battery storage capacity is anticipated to double this year. While EV adoption is projected to slow, it's still on the rise. (Bloomberg NEF predicts nearly 22 million passenger EVs will be sold this year — marking a 25% increase from last year — with China making two-thirds of the purchases.) Group14 customers also include consumer electronics. (Bloomberg NEF predicts nearly 22 million passenger EVs will be sold this year — marking a 25% increase from last year — with China making two-thirds of the purchases.) Group14 customers also include consumer electronics. Group14 has a manufacturing facility in South Korea that is a joint venture with electronics company SK materials. That plant will begin operating at full capacity next month and its output will be available to Chinese customers without U.S. tariffs. that is a joint venture with electronics company SK materials. That plant will begin operating at full capacity next month and its output will be available to Chinese customers without U.S. tariffs. Group14 increased its slate of customers from 110 in September to 150 today. While tariffs dampened interest from China, Luebbe said there is 'huge' demand from the U.S. and Europe. Other battery efforts in Washington are likewise trying to weather less predictable conditions. Last month, OneD Battery Sciences reportedly pulled the plug on its pilot plant in Moses Lake, while Sila is commissioning its battery materials facility in the same town and plans to start production this year. Group14 in September received a separate $200 million DOE grant to build a Moses Lake plant that will produce silane gas, an essential ingredient for manufacturing silicon battery materials. That support could be pulled, but Luebbe said the effort will proceed regardless. He hopes the company can navigate past the politicization of clean energy and appeal to more universal demands. 'This is job creation. This is factories, industrialization. This is creating a new industry. This is a chemical plant,' Luebbe said. 'We are behind a whole new opportunity in advanced materials production for all kinds of applications that are really critical.'
Associated Press
23-06-2025
- Business
- Associated Press
Nevada Lithium Exploration, Inc. to File and Present NI 43-101 Technical Report for the Prometheus Project at Fastmarkets' 17th Lithium Supply & Battery Conference
Reno, NV June 23, 2025 --( )-- The Company will formally release the report during the Fastmarkets' 17th Lithium Supply & Battery Materials Conference, to be held June 23-26, 2025, at the Red Rock Resort in Las Vegas, Nevada. Nevada Lithium's President G.W. Bush, will represent the Company at the premier global gathering of lithium and battery materials stakeholders. The Prometheus Lithium + Rare Earth Elements (REEs) Project encompasses approximately 6000 acres situated on the western flank and slope of the Weepah Hills in Esmeralda County, Nevada. The property lies in a prime geological corridor-positioned between two major drainage tributaries that flow into Clayton Valley and Big Smokey Valley, both known for their lithium-rich sediments. The Prometheus Project shares a four-mile boundary with the geothermal lease held by Chevron and Baseload Capital in the Weepah Hills, highlighting strong potential for synergies with renewable energy development. Nevada Lithium Exploration's claim-block is located just 10 minutes north of Albermarle's Clayton Valley Operation--the only producing lithium brine mine in the United States and 15 minutes to the east of Ioneer's Rhyolite Ridge Lithium-Boron Project, the Prometheus Project lies within the heart of Nevada's globally significant lithium belt. 'We're excited to advance the Prometheus Project, which represents a significant step forward in securing domestic critical mineral supply for the clean energy transition,' said Bob Marvin, P. Geo Consulting Geologist at Nevada Lithium Exploration, Inc. 'Our initial results demonstrate the potential for a polymetallic deposit containing lithium, REEs, and other critical and precious metals.' Contact Information: Nevada Lithium Exploration, Inc. G.W. Bush President - CEO 877-685-4397 Contact via Email Read the full story here: Nevada Lithium Exploration, Inc. to File and Present NI 43-101 Technical Report for the Prometheus Project at Fastmarkets' 17th Lithium Supply & Battery Conference Press Release Distributed by
Yahoo
20-06-2025
- Business
- Yahoo
Canter Resources to Attend Fastmarkets Lithium Supply & Battery Raw Materials Conference in Las Vegas
Vancouver, British Columbia--(Newsfile Corp. - June 20, 2025) - Canter Resources Corp. (CSE: CRC) (OTC Pink: CNRCF) (FSE: 6O1) ("Canter" or the "Company"), a U.S.-focused critical mineral exploration company, is pleased to announce that its management team will be attending the Fastmarkets Lithium Supply & Battery Raw Materials Conference, taking place June 23-26, 2025, at the Red Rock Casino Resort in Las Vegas, Nevada. The Fastmarkets conference is recognized as the industry's largest and most influential gathering for the global lithium and battery materials sector, bringing together over 1,300 delegates from 550 companies across 40 countries. The event provides a premier platform for industry leaders to discuss critical issues, innovations, and market trends shaping the future of battery raw materials supply chains. Canter's Nevada portfolio is well positioned within the key districts within the state, with significant momentum building around Nevada emerging as an important hub for securing domestic supply chain independence for lithium and other critical minerals. Government support continues to increase through the Department of Energy, Department of Defense and EXIM bank, as demonstrated by the significant funding initiatives taking place in the region. The Company looks forward to advancing its strategic partner and M&A discussions at the Conference, and engaging with peers, investors, and stakeholders to share insights on sustainable exploration, Direct Lithium Extraction developments and the evolving regulatory landscape. For those attending the conference who would like to schedule a meeting with Canter's management team, please contact info@ About Canter Resources Corp. Canter Resources Corp. is a junior mineral exploration company advancing the Columbus Lithium-Boron Project and the Railroad Valley (RV) Lithium-Boron Project in Nevada, USA. The Company is completing a phased drilling approach at Columbus to test highly prospective brine targets at varying depths for lithium-boron enrichment and plans to leverage the Company's critical metals targeting database to generate a portfolio of high-quality projects with the aim of defining mineral resources that support the technology and domestic clean energy supply chains in North America. On behalf of the Board of Directors. For further information, contact: Joness LangChief Executive Officer Canter Resources Corp. Tel: 778.382.1193jlang@ For investor inquiries contact: Kristina Pillon, High Tide Consulting 604.908.1695investors@ The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release. FORWARD-LOOKING STATEMENTS This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding the Company's plans for the Project and the payments related thereto, the issuance of the Consideration Shares and the Company's expected exploration activities. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: requirements for additional capital; future prices of minerals; changes in general economic conditions; changes in the financial markets and in the demand and market price for commodities; other risks of the mining industry; the inability to obtain any necessary governmental and regulatory approvals; changes in laws, regulations and policies affecting mining operations; hedging practices; and currency fluctuations. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. To view the source version of this press release, please visit
