ICL Group Ltd., Tel Aviv, has signed a Memorandum of Understanding (MOU) with Aleees, a Taiwanese manufacturer of lithium iron phosphate (LFP) battery cathode materials.
As part of the understanding, Aleees will grant licensed technology on LFP to ICL and will also provide the company with technical information and support services to accelerate the development of cathode material production in the U.S., ICL said in a statement announcing the MOU.
Plans call for ICL to establish production of 30,000 mt, and also future ramp up, for LFP battery cathode materials at its manufacturing campus in St. Louis, Mo., which is also ICL’s North American headquarters and where the company has a global R&D center.
“ICL is excited to lead the establishment of a localized, integrated, sustainable supply chain of LFP battery materials for U.S.-based customers and to reduce the risk for U.S. companies currently dependent on foreign supply of LFP materials,” said ICL Phosphate Specialties President and ICL North America Managing Director Philip Brown.
“The global energy storage market has clearly shifted toward LFP batteries as the dominant, more sustainable, safer, and cost-effective solution, and we expect our future production to be exclusively dedicated to this area, with our demand estimated to surpass 170,000 mt by 2025, and 500,000 mt by 2028,” said Aleees President Edward Chang.
Aleees has customers in Japan, South Korea, and Europe, as well as the U.S.