Rio Tinto Invests in Battery Materials Company, InoBat

Rio Tinto of London, England is supporting the development of a battery ecosystem in Europe with an investment in Inobat Auto. The investment will support completion of InoBat’s research and development centre and pilot battery line in Voderady, Slovakia.

Marnie Finlayson, Managing Director of Rio Tinto’s Battery Materials Business, said, “We are delighted to be able to deepen our partnership with InoBat through our investment and look forward to benefiting from a broader perspective of the battery materials sector, as well as insights into future battery chemistries and technologies.

“Our Jadar lithium project in Serbia is on the doorstep of the European electric vehicle market. Capable of producing enough lithium to make around one million electric vehicle batteries a year to the highest environmental standards. We believe Jadar will be a critical supplier of the European battery ecosystem and through our investment in InoBat, we hope that we can assist in making some of these batteries locally.”

Volume 35, Issue 22

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