Indonesian Company Partners with Nordic and Hualong International to Develop Copper Foil Ecosystems

Indonesian Battery Company (IBC), a state-owned enterprise (BUMN) involved in the electric vehicle battery ecosystem, has officially partnered with Nordic Investments Ltd. and China's Sinoron International Construction Company (SINORON) by signing a Memorandum of Understanding (MoU) for a cooperation agreement.Nordic is one of the world's largest producers of copper foil, and this partnership is a strategic initiative by IBC to encourage copper downstream projects, especially in the use of copper cathode as raw material for battery anodes and copper sheets (copper foil) for electronic PCBs.The President of PT Industri Battery Indonesia (IBC) said they are very much in favor of this initiative, and that this partnership program is a part of IBC's efforts to develop the new energy material ecosystem for batteries through the Copper Foil's efforts to develop the new energy material ecosystem for batteries. Copper foil is an important part of the negative electrode of a battery, and the raw material for copper foil, i.e. copper negative electrode, can be supplied by PT Freeport Indonesia's smelter, which was just inaugurated by the President on September 23rd. Meanwhile, PT Industri Batteries Indonesia's Director of Operations and Business Development said that IBC's partnership program with Nordic is one of IBC's onshore strategies to develop the country's battery ecosystem.

As a result, Indonesia can become a production center for the global battery industry and can supply battery products and battery components to the EU, the US and Asia. The scope of cooperation under the MoU includes joint research on the market potential of copper foil for lithium-ion batteries and PCBs, exploring the supply of copper cathodes and sulfuric acid, and exploring an investment plan to form a joint venture for copper foil for PCB batteries and electronic products. The Chairman of Nordic said that Indonesia will be the center of Nordic's market development in the ASEAN region by taking advantage of the country's rich copper resources, and they are pleased to be part of IBC's efforts to develop a new energy materials ecosystem for batteries. Meanwhile SINORON's Commercial Director said that the copper foil project is a sustainable effort by the Fulcrum Consortium to bring leading Chinese companies to Indonesia to support IBC's development of new energy materials through an integrated ecosystem of electric vehicle batteries and energy storage systems.