LG Energy Solution (KRX:373220) has signed a multi-year binding offtake agreement with North American lithium producer Elevra Lithium, according to a statement on Thursday.

Under the deal, Elevra will supply 240,000 dry metric tonnes of spodumene concentrate over four years, starting later this year, from its operational North American Lithium project in Quebec, Canada.

The regional supply will feed the South Korean battery maker's five standalone and joint venture manufacturing facilities across North America, including its CA$5 billion NextStar Energy plant in Windsor, Ontario.

The agreement adds spodumene concentrate as an intermediate feedstock to LG's raw material portfolio, expanding beyond its existing supply of lithium carbonate and lithium hydroxide.

LG Energy's shares jumped more than 4% in recent trade.