Galp Decides Not To Move Forward With Aurora Project
Nov 27 (Reuters) -Galp GALP.LS:
SAID ON TUESDAY IT HAD DECIDED NOT TO PROCEED WITH THE CONSTRUCTION OF THE AURORA PROJECT, A 50/50 PARTNERSHIP BETWEEN GALP AND NORTHVOLT
NOTHVOLT COMMUNICATED TO GALP IN EARLY 2024 ITS DECISION TO CEASE INVESTING IN AURORA
SINCE THEN, GALP HAS SOUGHT TO IDENTIFY NEW INTERNATIONAL PARTNERS, BUT WITHOUT SUCCESS
THE CURRENT CONTEXT AND THE INABILITY TO COUNT ON AN INTERNATIONAL PARTNER MAKE IT IMPOSSIBLE TO CONTINUE WITH THE
AURORA HAS BEEN WORKING SINCE 2021 TO ESTABLISH A LITHIUM CONVERSION PLANT IN SETÚBAL, AIMING TO SUPPLY THE BATTERY INDUSTRY BY LEVERAGING PORTUGAL'S LITHIUM RESERVES
Source text: https://tinyurl.com/463z6p5b
Further company coverage: GALP.LS
(Gdansk Newsroom)
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