{"id":45623,"date":"2024-03-22T09:27:12","date_gmt":"2024-03-22T09:27:12","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=45623"},"modified":"2024-03-22T09:27:12","modified_gmt":"2024-03-22T09:27:12","slug":"eu-and-norway-sign-raw-materials-and-battery-value-chains-deal","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/eu-and-norway-sign-raw-materials-and-battery-value-chains-deal\/45623\/","title":{"rendered":"EU and Norway sign raw materials and battery value chains deal"},"content":{"rendered":"
A Memorandum of Understanding (MoU), signed by Maro\u0161 \u0160ef\u010dovi\u010d, Executive Vice-President for the European Green Deal, and Jan Christian Vestre, Minister of Trade and Industry of the Kingdom of Norway, outlines a comprehensive framework for raw materials and battery value chains collaboration between the EU and Norway.<\/p>\n
This significant agreement marks a pivotal milestone in the EU-Norway Green Alliance, initially announced by Commission President Ursula von der Leyen and Norwegian Prime Minister Jonas Gahr St\u00f8re in April 2023.<\/p>\n
Leveraging their geographical proximity, the alliance aims to bolster integration, thereby mitigating the risks of trade disruptions while enhancing the overall competitiveness of both economies.<\/p>\n
Moreover, the initiative is anticipated to generate high-quality job opportunities, contributing to sustainable economic growth.<\/p>\n
The timing of the agreement is particularly poignant, coinciding with the 30th anniversary of the European Economic Area Agreement, which solidifies Norway’s participation in the Single Market.<\/p>\n
This agreement has long been hailed as a cornerstone of EU-Norway relations, emphasising the mutual benefits and potential for further collaboration.<\/p>\n
\u0160ef\u010dovi\u010d commented: “We are bringing cooperation between the EU and Norway to another level, as today’s signature is of strategic value.<\/p>\n
“It will create a wide range of business and research opportunities on both sides, strengthening both our industrial base and our political bond.”<\/p>\n
Norway, a nation abundant in mineral resources, including rare earths, magnesium, titanium, vanadium, and phosphate rock, boasts a substantial processing capacity for various raw materials.<\/p>\n
Over recent years, Norway has witnessed a notable surge in the battery sector, marked by the emergence of numerous ventures spanning the entire value chain.<\/p>\n
These vast resources and expertise will be essential to reinforcing EU raw materials and battery value chains.<\/p>\n
The EU boasts a flourishing market for green technologies, particularly batteries, with an estimated demand reaching 175 GWh in 2023.<\/p>\n
The EU’s battery industry<\/a> stands as the second-largest globally, supported by existing facilities capable of ramping up to 220 GWh in capacity.<\/p>\n Moreover, the region is witnessing a surge in battery manufacturing endeavours, with an additional 1 TWh of projects either announced or currently in the construction phase.<\/p>\n This robust demand landscape presents a plethora of opportunities for forging offtake agreements, engaging in joint ventures, and collaborating on research and innovation (R&I) projects.<\/p>\n Furthermore, the EU is actively harnessing its potential in critical and strategic raw materials, paving the way for potential collaborations with Norwegian counterparts.<\/p>\n The MoU establishes a robust framework for close collaboration between the EU and Norway across five key areas:<\/p>\n The MoU aims to foster joint investment projects by facilitating partnerships such as joint ventures, consortia, and special-purpose vehicles among industrial players.<\/p>\n This collaboration seeks to link final users with raw materials suppliers, enhancing efficiency and sustainability across the value chains.<\/p>\n Both parties commit to collaborative R&I efforts, leveraging joint projects to drive potential industrial adoption and implementation.<\/p>\n Norway’s active participation in the EU Framework Programme for R&I – Horizon 2020 and its continued involvement in Horizon Europe underscores the commitment to advancing innovation collectively.<\/p>\n The MoU promotes the application of rigorous environmental, social, and governance standards throughout the raw materials and battery value chains.<\/p>\n Mutual consultation and exchange of information on relevant policies and initiatives, including recycling and waste management, will facilitate the adoption of best practices.<\/p>\n Financial and investment support for projects under the partnership will be facilitated through mechanisms such as Invest EU<\/a>, the European Raw Materials Alliance<\/a>, and the European Battery Alliance.<\/a><\/p>\n This mobilisation aims to accelerate the development and deployment of sustainable initiatives within the raw materials and battery sectors.<\/p>\n The MoU emphasises the importance of nurturing the necessary skills for high-quality jobs in the raw materials and battery sectors.<\/p>\n Stakeholder mobilisation and financial support for initiatives such as the European Battery Academy will play a pivotal role in enhancing workforce capabilities and driving sectoral growth.<\/p>\n Following the signing of the deal, the EU and Norway will collaborate with stakeholders to implement the roadmap for the partnership.<\/p>\n","protected":false},"excerpt":{"rendered":" The EU and Norway have sealed a partnership for sustainable land-based raw materials and battery value chains.<\/p>\n","protected":false},"author":15,"featured_media":45627,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[24502],"tags":[24552,24308],"acf":[],"yoast_head":"\nDetails of the EU-Norway partnership<\/h3>\n
Integration of raw materials and battery value chains<\/h4>\n
Co-operation on research and innovation (R&I)<\/h4>\n
Adherence to high environmental, social, and governance standards<\/h4>\n
Mobilisation of financial and investment instruments<\/h4>\n
Development of skills for high-quality jobs<\/h4>\n