- Lithium Australia’s (LIT) subsidiary, VSPC, sends high-performance cathode material to customers for testing
- The cathode powder met industry performance and physical property specifications before being sent out
- Lithium Australia says further cathode material will be made and sent to battery manufacturers operating in the electric vehicle market
- Lithium Australia is in the grey, trading at 11 cents per share
Lithium Australia’s (LIT) subsidiary, VSPC, has sent high-performance cathode material to its customers for testing.
The lithium manganese ferro phosphate (LMFP) cathode powder made by VSPC met industry performance and physical property specifications before being sent out.
Once received, the powder will then be tested by LIT’s customers for use in commercial lithium-ion batteries.
“VSPC can tailor the composition, and hence performance criteria, of LMFP according to specific customer requirements,” the company said.
Lithium Australia said further LMFP will be made and sent to battery manufacturers who are focused on the electric vehicle market.
Notably, battery and electric vehicle producers worldwide, among them BYD, Volkswagen and Tesla, are transitioning to the use of lithium ferro phosphate (LFP) cathode material in lithium-ion batteries.
According to LIT, lithium-ion batteries with either LFP or LMFP are cheaper and safer than those containing nickel and cobalt.
Managing Director Adrian Griffin is pleased with the dispatches.
“Lithium Australia has not only demonstrated its unprecedented ability to produce high performance LMFP (the next generation of energy-storage material) but has done so on schedule. Potential customers can now access this advanced material for testing in commercial format lithium-ion cells,” Mr Griffin said.
“Meanwhile, Lithium Australia continues to evaluate commercial production opportunities in the most rapidly expanding battery markets globally, with a view to shortening supply chains and reducing the carbon footprint of battery production.”
Just as the market opens, Lithium Australia is trading in the grey at 11 cents per share at 10:05 am AEST.