IPL has agreed to license LFP battery cathode material technology to First Phosphate.
“We have visited the IPL facilities in the United Kingdom and were able to see and touch the LFP cathode active material produced by IPL,” First Phosphate CEO John Passalacqua said in a statement. “We have also viewed the performance logs of test battery cells created using LFP cathode active material produced by IPL. We are cautiously optimistic that IPL technology could hold the answer to improved LFP battery performance.”
The agreement provides for the following mutually beneficial, perpetual arrangements between the parties:
“There is the traditional solid-state method of making LFP cathode active material from ferro-phosphate and lithium-phosphate precursors which is currently the main production formula used in China. Then there are promising new advanced hydrothermal methods such as those being pioneered by IPL that produce higher performance LFP batteries,” First Phosphate President Peter Kent added. “We believe it prudent for the company to have access to IPL’s advanced method of LFP cathode active material formulation.”
First Phosphate noted that IPL technology demonstrates improvements that should allow for the production of LFP batteries that will have more simplified cooling systems, greater compactness, lighter footprint and lower pre-heating requirements in colder temperatures.
Some of the benefits include:
The company said it was informed that IPL recently closed its oversubscribed equity investment round which received co-investment by the UK government grant-funded project for LFP battery material pilot plant development. The IPL pilot plant is expected to be operational by the end of 2023.
“We are pleased to partner with First Phosphate in gaining strategic access to properly curated LFP-grade purified phosphoric acid and iron sulphate which will be in short supply in the near future as LFP production comes online in the Western World,” IPL CEO Behnam Hormozi commented. “We require a development partner like First Phosphate which is fully committed to the LFP battery industry, to a low carbon footprint, to ESG compliancy, to non-conflict ethical sourcing, to traceable and secure supply and to just-in-time provisioning. All of these are strategic production advantages for IPL and our clients.”