New Collaboration in Battery Materials
First Phosphate has announced a partnership with Ultion Technologies, signifying a major move in the lithium battery materials market. The two companies have entered into a Memorandum of Understanding, focusing on the acquisition and utilization of technology for producing lithium iron phosphate (LFP) and lithium iron phosphate manganese (LFMP) as cathode active material (CAM).
Details of the Technology and Market Potential
First Phosphate will acquire a non-exclusive, perpetual license for LFP and LFMP production technology. The LFP technology is currently employed in two facilities, boasting capacities of 10,000 and 50,000 tonnes per year. Given the current market, the 50,000 tonnes of LFP CAM could hold a significant market value. The LFMP technology, still in development, is produced at a smaller scale of several tonnes per month.
Terms of the Agreement
Under the agreement, Ultion will transfer technology and necessary documents to First Phosphate for the commercial implementation of LFP CAM production. First Phosphate will have the option to purchase one or both technologies and may obtain exclusive North American rights for LFMP technology for an additional fee.