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- Lithium Australia (LIT) subsidiary VSPC has successfully produced lithium manganese ferro phosphate (LMFP) for use in lithium-ion batteries
- After extensive research, VSPC has developed LMFP, a high-capacity LIB cathode powder that contains no nickel or cobalt
- The LMFP has an energy density significantly greater than that of standard lithium ferro phosphate (LFP) powders
- The product will be ready for battery manufactures to test next month
- On the market today, LIT is in the grey and trading at 12 cents per share
Lithium Australia (LIT) subsidiary VSPC has successfully produced lithium manganese ferro phosphate (LMFP) for use in lithium-ion batteries.
After extensive research, VSPC has developed LMFP, a high-capacity LIB cathode powder that contains no nickel or cobalt.
The LMFP has an energy density significantly greater than that of standard lithium ferro phosphate (LFP) powders.
Although LMFP has an energy density similar to the more common nickel-based LIB, but it is estimated to be cheaper, safer and longer-lasting than those nickel variants.
Lithium Australia has stated the product will be ready for battery manufactures to test next month.
“In March of this year, for the first time China’s output of LFP-type LIBs eclipsed that of nickel/cobalt LIBs. In fact, worldwide there’s a growing trend away from the use of nickel and cobalt in such batteries, a step in the right direction in terms of safety and the sustainability of the industry as a whole,” Managing Director Adrian Griffin said.
“LMFP is poised to become the next generation of LIB, which can make EVs cheaper and safer but still with great range. The company’s LMFP is leading the way in this regard,” he added.
On the market today, LIT is in the grey and trading at 12 cents per share at 12:02 pm AEST.
