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First Phosphate, American Battery Factory and Integrals Power Sign MOU to Produce LFP Cathode Active Material and Battery Cells in North America

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First Phosphate, American Battery Factory and Integrals Power Sign MOU to Produce LFP Cathode Active Material and Battery Cells in North America

 

 

 

 

 

First Phosphate Corp. (CSE: PHOS) (OTC: FRSPF) (FSE: KD0) is pleased to announce that it has entered into a multi-party agreement with American Battery Factory Inc. of Utah, USA and Integrals Power Limited of Milton Keynes, United Kingdom to produce lithium iron phosphate cathode active material and LFP battery cells in North America.

 

The initiative is to support ABF’s eventual need for up to 40,000 tonnes of annual fully localized LFP CAM for LFP battery cell production in North America by 2028. LFP Project America aims to eventually localize the entire production supply chain of LFP CAM, LFF battery cells storage devices for the battery storage sector to North America.

 

Pre-recorded Interview on the initiative: https://www.youtube.com/watch?v=S-8HBv3OjLI

 

The following mutually beneficial arrangements have been agreed upon by the parties:

  • LFP Project America will be undertaken by First Phosphate, ABF and IPL and will invite other suppliers into the project group to support this initiative.
  • First Phosphate, ABF and IPL will co-operate in the creation of a pilot run of LFP CAM for the use in ABF LFP battery cells using IPL technology and raw materials provided by First Phosphate.
  • After the successful pilot for LFP Project America has been completed, the three parties will work together to build a North American supply plant to supply LFP CAM to ABF.
  • Integrated facilities that move from raw materials into final LFP battery cells and final LFP storage device production, and which would require tighter integration by the current parties and other potential third parties, could also be considered and will form part of advanced discussions between the parties.
  • ABF projects sustained annual demand for LFP CAM starting in 2026 rising to 40,000 tonnes (20 GWh) by 2028 at its first planned LFP battery manufacturing facility in Tuscon, Arizona. ABF intends to construct several other LFP battery manufacturing facilities across North America, each of which should require a similar amount of LFP CAM.
  • First Phosphate, ABF and IPL will begin a homologation process whereby First Phosphate raw source materials and LFP CAM produced by LFP Project America will be integrated directly into ABF battery cells and tested in ABF end-user battery storage products.

 

“We are excited to be part of LFP Project America,” says ABF President, Major General (US-Army Retired) John S. Kem. “To enable our energy future, we need strategic relationships like this one that are committed to using innovative techniques and local materials, tied to sustainable environmental practices. LFP Project America does just that.”

 

“This is a synergistic collaboration that will allow for accelerated development of green LFP technology that improves net zero goals,” says IPL CEO, Behnam Hormozi.

 

“LFP Project America is an example of suppliers from the entire supply chain coming together to build the LFP battery sector in North America,” says First Phosphate CEO, John Passalacqua. “We need to go from raw materials all the way to finished battery product if we wish to develop supply chain independence in North America.”

 

First Phosphate has access to clean igneous anorthosite phosphate-bearing rock in Quebec, Canada that it intends to purify into a large quantity of battery-grade purified phosphoric acid to support LFP Project America.

 

About American Battery Factory Inc.

 

American Battery Factory Inc., a Lithium Iron Phosphate (LFP) battery cell manufacturer, is developing the first-ever network of safe LFP cell giga-factories in the United States. The company is dedicated to making energy independence and renewable energy a reality for the United States by creating a domestic battery supply chain. Along with creating domestic manufacturing jobs, ABF will play a crucial role in meeting US federal and state government climate change initiatives and “Made-in-USA” national security requirements.

 

About Integrals Power Limited

 

IPL is a next-generation battery nano-material company committed to accelerated research, development and commercialisation of state-of-the-art battery. The team of entrepreneurs, scientists and engineers have conducted comprehensive market verification & validation to form their strategy for the development of commercially feasible state-of-the-art battery materials. This broad market research empowered the accelerated development and production of IPL proprietary high-performance, cost effective and scalable battery cathode materials for LFP for batteries. IPL’s latest battery material development results empower economical cells with higher performance compared to the conventional alternatives.

 

About First Phosphate Corp.

 

First Phosphate is a mineral development company fully dedicated to extracting and purifying phosphate for the production of cathode active material for the Lithium Iron Phosphate (“LFP”) battery industry. First Phosphate is committed to producing at high purity level, in responsible manner and with low anticipated carbon footprint. First Phosphate plans to vertically integrate from mine source directly into the supply chains of major North American LFP battery producers that require battery grade LFP cathode active material emanating from a consistent and secure supply source. First Phosphate holds over 1,500 sq. km of royalty-free district-scale land claims in the Saguenay-Lac-St-Jean Region of Quebec, Canada that it is actively developing. First Phosphate properties consist of rare anorthosite igneous phosphate rock that generally yields high purity phosphate material devoid of high concentrations of harmful elements.

 

Posted January 25, 2024

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