Talga Group and Mitsubishi execute anode supply LOI

• Battery anode products LoI signed
• Continual time sheet discussions underway
• Discussions include product specifications
• Targeting three-year supply agreement

Talga Group (ASX:TLG) has executed a non-binding letter of intent (LoI) with leading Japanese manufacturer of lithium-ion battery materials Mitsubishi Chemical Corporation (MCC) for the potential supply of Talnode anode products.

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The LoI creates a structured engagement to progress ongoing technical evaluations and commercial discussions regarding potential supply of Talga’s trademarked Talnode products to MCC for hybrid electric vehicle (HEV) batteries.

Key elements of the LOI include:

• targeting September 2026 for a conditional supply terms sheet and execution of a definitive three-year supply agreement by December 2026 (subject to technical evaluation, sample testing, product qualification and other conditions).

• The term of the LOI may be extended by mutual written agreement if the above deadlines aren’t met, with volume ranges and raw-material security requirements under discussion.

• Joint focus on product specifications, quality, supply-chain due diligence, ESG metrics and achieving FEOC-free, low-CO2 anode material targets.

Talga told the ASX that while no material financial impact is expected at this stage, this engagement with a major global battery materials producer represents a significant commercial opportunity for the company to demonstrate its anode material in the high-growth HEV sector and create new supply chains for Japanese industry.

The company’s range of 100% owned and developed Talnode graphite products for high-power and fast-charge battery applications are produced with FEOC-free (Foreign Entity of Concern) supply from Talga’s fully integrated Swedish mine-to-anode operations.

Last week Talga Group begun the maiden commercial deliveries of its flagship battery graphite anode product Talnode-C to customer Nyobolt under a binding offtake agreement.

The first shipment at a contracted commercial price under an original agreement announced in May 2025 was delivered from Talga’s EVA demonstration plant in Luleå, Sweden.

Customer, Nyobolt is a pioneer of high-power, ultra-fast battery charging technologies and its systems are now being deployed in an expanding range of applications including high-performance and heavy-duty vehicles, AI warehouses and data centres.

Under the May 2025 offtake agreement Under the offtake agreement, Nyobolt committed to purchasing 3,000 tonnes total of Talnode-C at a fixed price for an initial term of four years commencing from 13 May 2025. Initial supply will be from Talga’s Electric Vehicle Anode (EVA) demonstration plant in Luleå.

TLG was steady at 28c prior to the market opening with a Mkt cap of $143.0M.

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