Dutch aluminum producer Aldel has reached an agreement with Glencore to purchase up to 180,000 tons of Aldel this year and next year. This purchase agreement ensures a guaranteed market for the production of the Aldel factory in these times of enormous uncertainty.
The offtake agreement will provide a guaranteed market for the output from the Aldel plant at time of huge uncertainty. Aldel’s annual production is currently around 80,000 tons, but the company has committed to significantly increase production over the next twelve months.
Aldel is an aluminum producer with its headquarters in Delfzijl. The company produces high-quality aluminum for the European transport and construction sectors and was acquired by York Capital in November 2017.
The company invests significant amounts in modernizing and expanding production. The plan consists of implementing advanced techniques for carbon capture and virtual batteries with the aim of reducing energy costs in addition to emissions of CO2 and other greenhouse gases.
As a major consumer of electricity, Aldel also plays an important role in preserving the balance in the Dutch energy grid, as renewable sources, such as offshore wind energy from the North Sea, are an increasing part of the total energy mix