Fannie Mae, Freddie Mac shares tumble after conservatorship comments
JORF LASFAR – COBCO, a joint venture between AL MADA and CNGR Advanced Materials, has entered into a strategic long-term supply agreement with Umicore (EBR:UMI), a leader in circular materials technology, to provide precursor cathode active materials (pCAM) for electric vehicle (EV) batteries.
The agreement announced today involves COBCO delivering high-performance NCM pCAM from its new production facility in Jorf Lasfar, Morocco. These materials will be used in Umicore’s production of cathode active materials (CAM), which are essential components in EV batteries, serving customers across Europe and other regions.
This partnership is part of the broader effort to establish a sustainable, transparent, and low-carbon battery value chain in the EMEA region. COBCO’s production plant in Morocco, which began operations in early 2025, is designed to meet high environmental and quality standards, with an emphasis on using renewable energy to minimize its carbon footprint.
Allen Luo, CEO of COBCO, stated, "This agreement marks a significant milestone in COBCO’s ambition to become a strategic supplier of low-carbon, high-quality battery materials to global leaders in electromobility. We are proud to contribute to Umicore’s responsible sourcing and circularity commitments while anchoring critical battery materials production in Morocco."
COBCO’s expansion plans include not only NCM pCAM but also Lithium Iron Phosphate (LFP) cathode materials and black mass recycling, aiming to build an integrated and circular battery materials ecosystem. The company’s current capacity is projected to power over 1 million EVs per year, equivalent to 70 GWh.
The partnership is expected to enhance COBCO’s position as a significant player in the battery materials market and contribute to the advancement of sustainable mobility. This information is based on a press release statement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.