Bipartisan Infrastructure Law for Battery Supply Chain Aleees to Support ICL on Cathode Active Material Manufacturing Facility in St Louis | So Good News

Aleees (TWSE: 5227); The Taiwan-based manufacturer of lithium-iron phosphate (“LFP”) cathode battery materials will provide state-of-the-art LFP process technology to world-leading specialty minerals company ICL for $400 million. A lithium iron phosphate (LFP) cathode active material (CAM) manufacturing facility in St. Louis.

It is expected to be the first large-scale LFP equipment manufacturing facility in the United States. After negotiations with the Department of Energy, the company was awarded $197 million in Bipartisan Infrastructure Law funding.

The plant is expected to be operational by 2024 and will produce high-quality LFP materials for the global lithium battery industry, using mainly the domestic supply chain.

The LFP plant represents a significant expansion of ICL’s energy storage portfolio, and is used in agriculture, It demonstrates the company’s commitment to developing high-quality specialty products for the food and industrial industries.

While demand for lithium batteries continues to grow; There are currently no major manufacturers of LFP equipment in the United States. By 2025, the share of LFP batteries is expected to reach more than 30% of all battery shipments.

Electric vehicle (EV) adoption is a key driver for the LFP battery market; Because this industry and others like stationary grid storage and EV charging infrastructure are more sustainable; We continue to look for safe and cost-effective solutions.

By 2030, Cairn ERA estimates that global demand for the Li-ion battery market will reach over 2,725 GWh with a market value of $240 billion.

FawnPresident of Phosphate Specialties and Managing Director of ICL North America;

LFP is US energy storage; A critical solution for the mobility and infrastructure market.

“The Department of Energy’s $197 million investment is critical to building globally competitive domestic manufacturers while providing a much-needed safety net for U.S. manufacturers in the EV, battery and energy storage industries.”

ICL’s 120,000 square feet LFP facility is expected to house two production lines in two phases under one roof. Each production line can produce 15,000 metric tons of LFP material per year.

Phase 1 is expected to be completed by 2024, with full production of 30,000 metric tons expected by 2025. The new facility will be located at ICL’s existing Carondelet campus in St. Louis.

ICL partners on the project include Aleees, who will provide state-of-the-art LFP process technology, and McCarthy, based in St. Louis, who will oversee general contracting management.

As ICL expands its active role in developing the next generation of employees, the local community will benefit through more than 150 high-paying union and professional jobs.

Regarding funding from the Department of Energy

ICL is the first recipient of projects funded by President Biden’s Bipartisan Infrastructure Law, which will expand domestic production of domestic batteries for electric vehicles (EV) and power grids and materials and components currently imported from other countries.

Domestic durable, responsible processing and processing of critical materials used to make lithium-ion batteries will strengthen America’s supply chains, accelerate battery production to meet increased demand, and strengthen the nation’s economic competitiveness. It will secure energy independence and national security.

The funding from the Department of Energy is the first phase of more than $7 billion in total provided by the President’s Bipartisan Infrastructure Act for the battery supply chain. DOE’s Office of Manufacturing and Energy Supply Chains (MESC) is responsible for strengthening and securing the manufacturing and energy supply chains needed to modernize the nation’s energy infrastructure and support a clean and balanced energy transition.

MESC will manage the portfolio of projects with support from DOE’s Office of Energy Efficiency and Vehicle Technology Office of Renewable Energy.

About Aleees

Aleees (TWSE: 5227) is a manufacturer of lithium-iron phosphate (LFP) battery products, founded in 2005 with its head office and factory located in Taiwan, and one of the longest history and IP licensees in the world. There are few companies outside of mainland China. [complete] LFP battery material production technology and patent.

Aleees Taiwan is Europe, United States Japan Owns more than 120 exclusive patents worldwide with customers including world-renowned energy storage battery and EV battery customers in Korea and Asia.

Currently, Aleees has more than 40 global customers and LFP, LFMP co-created various types of products, high quality, We manufacture low cost and long life LFP cathode materials. In the 17 years since its inception, A total of over 15,000 tons of LFP products were exported from the Taiwan factory.

Aleees American-English for battery supply chain; Taipei October 31 2022 October 31st