ExxonMobil and EV battery maker SK On sign MOU regarding U.S. produced Mobil™ Lithium
25 6월 2024 - 11:00PM
Business Wire
SK On seeking multiyear supply, up to 100,000
metric tons, of lithium from ExxonMobil for U.S.-based EV battery
manufacturing
- Agreement signals demand for domestically sourced Mobil™
Lithium and marks a milestone in building out U.S. electric vehicle
and battery supply chains
- Domestic lithium production contributes to energy security,
supports U.S. manufacturing jobs and reduces carbon emissions
ExxonMobil (NYSE: XOM) has signed a non-binding memorandum of
understanding (MOU) with SK On, a global leading electric vehicle
(EV) battery developer, that opens the door to secure a multiyear
offtake agreement of up to 100,000 metric tons of Mobil™ Lithium
from the company’s first planned project in Arkansas. SK On plans
to use the lithium in its EV battery manufacturing operations in
the U.S. This will contribute to ExxonMobil’s goal, announced in
late 2023, of supplying lithium for about one million EV batteries
annually by 2030 and support the build out of a U.S. EV supply
chain.
Demand for lithium is forecasted to grow sharply in coming years
as it is an essential component for EVs, consumer electronics,
energy storage systems, and other clean energy technologies. The
planned project will extract lithium from underground saltwater
deposits and convert it into battery-grade material onsite in
Arkansas. This approach aims to produce lithium more efficiently
and with fewer environmental impacts than traditional hard rock
mining.
“The world needs more lithium to support its emissions goals,
and we're doing our part to drive solutions forward in the United
States,” said Dan Ammann, President of ExxonMobil Low Carbon
Solutions. “This collaboration with SK On demonstrates the leading
role we play in the growing market for domestically sourced
lithium, a market that’s advancing energy security and climate
objectives, as well as supporting American manufacturing."
Planned production of Mobil™ Lithium will use ExxonMobil's core
capabilities in subsurface exploration, drilling, and chemical
processing, offering U.S. EV battery manufacturers a more secure,
lower-carbon lithium supply option. Through the appraisal drilling
program and technology pilot using Direct Lithium Extraction (DLE)
technology, ExxonMobil has successfully produced lithium carbonate
from the Smackover formation in southern Arkansas.
In the U.S., SK On currently operates two battery plants in
Commerce, Georgia, and is building four more plants through joint
ventures with Ford Motor Co. and Hyundai Motor Group. After 2025,
the annual production capacity of SK On in the U.S. alone is
expected to reach more than 180 GWh, which is enough to power about
1.7 million EVs a year.
“SK On has been working with global partners to secure key
battery raw materials in a move to support our growing U.S.
manufacturing base and lead electrification in the region,” said
Park Jong-jin, Executive Vice President of Strategic Procurement at
SK On. “Through this partnership with ExxonMobil, we will continue
strengthening battery supply chains in the U.S.”
About ExxonMobil
ExxonMobil, one of the largest publicly traded international
energy and petrochemical companies, creates solutions that improve
quality of life and meet society’s evolving needs.
The corporation’s primary businesses - Upstream, Product
Solutions and Low Carbon Solutions – provide products that enable
modern life, including energy, chemicals, lubricants, and lower
emissions technologies. ExxonMobil holds an industry-leading
portfolio of resources, and is one of the largest integrated fuels,
lubricants, and chemical companies in the world. ExxonMobil also
owns and operates the largest CO2 pipeline network in the United
States. In 2021, ExxonMobil announced Scope 1 and 2 greenhouse gas
emission-reduction plans for 2030 for operated assets, compared to
2016 levels. The plans are to achieve a 20-30% reduction in
corporate-wide greenhouse gas intensity; a 40-50% reduction in
greenhouse gas intensity of upstream operations; a 70-80% reduction
in corporate-wide methane intensity; and a 60-70% reduction in
corporate-wide flaring intensity.
With advancements in technology and the support of clear and
consistent government policies, ExxonMobil aims to achieve net-zero
Scope 1 and 2 greenhouse gas emissions from its operated assets by
2050. To learn more, visit exxonmobil.com and ExxonMobil’s
Advancing Climate Solutions.
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Cautionary Statement
Statements of future events, investments, or partnerships in
this release are forward-looking statements. Actual future results,
including project plans, partner participation, timing, capacities,
and costs could differ materially depending on a number of factors
including the ability to execute operational objectives on a timely
and successful basis; implementation of government frameworks and
permitting for carbon capture and storage, hydrogen, ammonia and
other lower-emission technologies; timely completion of
construction projects; commercial and consumer interest in
lower-emissions opportunities; changes in plans or objectives prior
to final funding decisions or project startups; unforeseen
technical or operational difficulties; and other factors discussed
under the heading Factors Affecting Future Results in the Investors
section of our website at www.exxonmobil.com. Any forward-looking
statement speaks only as of the date of this press release and the
companies named herein disclaim any obligation to update any
forward-looking statement.
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