State-owned enterprise (BUMN) PT Industri Battery Indonesia (IBC), which is involved in the electric vehicle battery ecosystem, has officially partnered with Nord Investment Co., Ltd. and China Sinoron International Construction Company (SINORON) by signing a Memorandum of Understanding (MoU) for a cooperation agreement. Nord is one of the world's largest copper foil producers. This collaboration is a strategic move by IBC to encourage copper downstream projects, particularly in using cathode copper as raw material for copper sheets (copper foil) used in battery anodes and electronic PCBs. The President of PT Industri Battery Indonesia (IBC) stated that they fully support this initiative, and this cooperation plan is part of IBC's efforts to develop a new energy material ecosystem for batteries through copper foil. Copper foil is an important component of the battery anode, and its raw material, cathode copper, can be supplied by the PT Freeport Indonesia smelter, which was just inaugurated by the President on September 23. Meanwhile, the Director of Operations and Business Development of PT Industri Batteries Indonesia stated that the cooperation plan between IBC and Nord is one of IBC's onshore strategies to develop the national battery ecosystem. Therefore, Indonesia can become a production hub for the global battery industry, supplying battery products and components to the European Union, the United States, and Asia. The scope of cooperation under this MoU includes joint research on the market potential of copper foil for lithium-ion batteries and PCBs, exploring the supply of cathode copper and sulfuric acid, and discussing investment plans to form a joint venture for copper foil for battery and electronic PCBs. The Chairman of Nord stated that by leveraging Indonesia's abundant copper resources, Indonesia will become the center of Nord's market expansion in the ASEAN region, and they are pleased to be part of IBC's efforts to develop a new energy material ecosystem for batteries. Meanwhile, the Commercial Director of SINORON stated that this copper foil project is a sustainable effort by the Fulcrum Consortium to bring leading Chinese companies into Indonesia, supporting IBC in developing new energy materials through an integrated ecosystem of electric vehicle batteries and energy storage systems.