INBC Ready to Provide Sustainable Battery Material for G7 Countries

VIVA – A new Indo-pacific Net-zero Battery-materials Consortium (INBC) is launched today, December 16, 2022, in London. The Consortium, backed by Indonesian and UK governments aims to position both Indonesia and the UK at the heart of the global EV supply chain and to be the go-to alternative for sustainable & low-carbon battery materials for G7 countries.

INBC is launched by the Bakrie Group, Envision and a FTSE 100 major producer and marketer of diversified commodities.

“I hope INBC will be able to accelerate developments of battery gigafactories in the UK and across G7 as we need to play our part in the end-to-end global EV supply chain started with Indonesia and the UK, then we can position us as the go-to alternative for ESG-processed nickel and battery materials, rather than the traditional coal-processed battery materials.” said Mr. Anindya Bakrie, Consortium Lead Representative of INBC and CEO of Bakrie & Brothers.

The Consortium is a flagship cooperation to secure low-carbon battery materials from Indonesia to the UK gigafactories and to launch Indonesia’s first net zero industrial park in the Central Sulawesi province of Indonesia.

INBC is committed to process the nickel-based battery materials using green renewable energy sources and ESG-orientated mining principles to ensure the lowest possible carbon footprints as a new alternative to coal-processed battery materials. The INBC plans to process about 84,000 MT nickel per annum, needed to produce approximately 2 million EV cars.

The ESG processing of battery materials will be housed in Indonesia’s first net zero industrial park with 2,000 ha in size powered by rich wind energy resources in Central Sulawesi. The Consortium plans to target new renewable energy generation of 1GW using onshore wind farm.

“The cooperation between UK-Indonesia is extremely important, especially in terms of education, technology, and industry. The launch of this new consortium, Indo-Pacific Net-zero Battery-materials Consortium is a new model for international cooperations which the Indonesia Government eagerly supports. I very much hope that this cross-border cooperation will advance Indonesia’s economic growth and boost green industries.” said HE Luhut Binsar Pandjaitan, Coordinating Minister of Maritime & Investment Affairs, the Republic of Indonesia.

“I congratulate you for doing something that haven’t been done before and I am extremely proud. This is just a beginning, and we have a number of important steps to strenghten our relationship. I want to thank Anin Bakrie who has done so much to bring industry players together in this consortium.” said Lord Dominic Johnson of Lainston CBE, UK Minister of Investment.

The historic launch of INBC was done by Coordinating Minister for Maritime & Investment Affairs, HE Luhut Pandjaitan, UK Investment Minister Lord Dominic Johnson, Mr. Anindya Bakrie, Mr. Chris Caygill, witnessed by Indonesian Ambassador to the UK, Desra Percaya, Prime Minister’s Trade Envoy to Indonesia and ASEA, Richard Graham MP, and moderated by Mr. Steven Marcelino. The session were also witnessed by Lord Gerry Grimstone, former UK Investment Minister; Mr. Aburizal Bakrie, Mr. Stanley Johnson.

The INBC is expected to bring in new multi-billions dollar investments and expected to substantially boost trade by at least 30% between Indonesia & the UK. Total trade between the UK and Indonesia was £3.2 billion in the four quarters to the end of Q2 2022, an increase of 27% or £0.7 billion from the same period in 20211.

In the last two years, the UK-Indonesia relations have achieved new heights with the launch of (i) UK-Indonesia Partnership Roadmap2; (ii) new Joint Economic and Trade Committee (JETCO); as well as (iii) the UK-Indonesia Investment Cooperation MoU which all launched in 2022.

The UK-Indonesia partnership roadmap particularly indicates both countries are committed to a strategic partnership that delivers for mutual benefits and respect of both countries and people, and contributes to the maintenance of peace, freedom, and prosperity in the Indo-Pacific.

Furthermore, this partnership roadmap emphasizes that both countries will work on the development of electric mobility ecosystem, including battery production such as processing of mineral resources, including nickel.

The recent UK-Indonesia Investment Cooperation MoU reinforces this by codifying both countries commitment to increasing both inward and outward investments in; value-added mineral industry, life sciences, and energy transition.

"In line with the economic priority of the Indonesia-UK partnership roadmap and investment cooperation, I’m hopeful that this consortium will soon materialize into concrete investment and significantly boost our bilateral trade." said HE Desra Percaya, Indonesian Ambassador to UK, Ireland and IMO.