BlackEarth (ASX:BEM) joins European Battery Alliance

• BlackEarth (BEM) shares have jumped today after announcing it has joined the European Battery Alliance (EBA)
• The EBA was formed by the European Commission in 2017 to support the expected boom in the battery market
• Notably, members in the EBA include Tesla, Ford, BMW, Bosch and Volvo Cars
• BlackEarth and its German-based graphite supply chain partner, LuxCarbon, have signalled their intention to support the alliance and plan to provide downstream processed products
• On the market today, BlackEarth is up 25 per cent and trading at 15 cents per share

BlackEarth (BEM) shares have jumped today after announcing it has joined the European Battery Alliance (EBA).

The EBA was formed by the European Commission in 2017 and has become one of the world’s leading industry groups focussed on the development of the growing electronic vehicles (EV) and battery markets.

The alliance will secure access to sustainably produced battery raw materials at a reasonable cost, supporting the expected growth in the market.

Members in the EBA include Tesla, Ford, BMW, Bosch, Volvo Cars and many other groups integral to the battery manufacturing supply chain.

BlackEarth and its German-based graphite supply chain partners, LuxCarbon, have signalled their intention to support the alliance and will provide downstream processed products that are suitable to the EV market.

“We recently held discussions with the team at the European Battery Alliance and were highly encourage to join as members,” Managing Director Tom Revy said.

“The team at BlackEarth are working toward the establishment of a downstream processing plant and we see the European market as a key destination for our range of products. Many of the existing Alliance members are already engaged with our partner in Europe and this provides us with enormous opportunities that are unique to BlackEarth,” he added.

On the market today, BlackEarth is up 25 per cent and trading at 15 cents per share at 1:00 pm AEDT.