Core Insights - AMG Lithium GmbH has signed a memorandum of understanding with Beijing Easpring Material Technology Co., Ltd for the supply and offtake of battery-grade lithium hydroxide monohydrate, marking a significant step towards a localized European battery supply chain [1][10] Company Overview - AMG Lithium is the first European lithium refiner with a production facility located in Bitterfeld-Wolfen, Germany [2] - Beijing Easpring is a Chinese producer of cathode active material and is currently constructing a facility in Kotka, Finland [2][9] Strategic Collaboration - The partnership between AMG Lithium and Easpring emphasizes their commitment to developing a localized battery supply chain in Europe [3] - Both companies will work closely to ensure the successful qualification of AMG Lithium's plant while negotiating a binding offtake agreement [3] Industry Impact - The collaboration is expected to promote the development of the new energy industry in Europe, contributing to a stronger and more resilient European battery industry [4] - The focus will also be on promoting the use of recycled feedstock and improving the carbon footprint throughout the value chain [4] Company Missions - AMG's mission is to provide critical materials and related process technologies to advance a less carbon-intensive world, focusing on energy storage materials such as lithium, vanadium, and tantalum [6] - AMG's Lithium segment aims to reduce the CO2 footprint of both suppliers and customers, while its Vanadium segment leads the market in recycling vanadium from oil refining residues [7] Global Operations - AMG operates globally with approximately 3,600 employees and production facilities in multiple countries including Germany, the United Kingdom, France, the United States, China, Mexico, Brazil, India, and Sri Lanka [8]