Livium’s LFP battery technology gains new investor interest
Sustainable lithium company Livium’s subsidiary VSPC has reported increased investor engagement following its recent $30 million grant from the Australian Renewable Energy Agency (ARENA) for an LFP Demonstration Plant.
The company announced that it is actively seeking to close the remaining $30 million funding gap for the 250-tonne per annum demonstration facility, which will showcase its lithium ferro phosphate (LFP) battery technology.
Investor engagement since securing the ARENA Grant includes financial investors, upstream and downstream strategic partners, structured debt providers, and state government investment organisations.
The company used the ARENA Grant as a mechanism to access new potential customers. Since the announcement, four new potential customers have been engaged with, including large EV OEM manufacturers. VSPC now has a portfolio in excess of 20 potential customers, with a total combined potential demand of more than 300 ktpa.
North America is considered a key market for VSPC and to penetrate this jurisdiction, VSPC has engaged United Mineral & Chemical Corporation (UMC) to function as sales agent of VSPC’s LFP and LMFP for the USA market. UMC is part of the ICD Group, a global bulk chemical trading company, and is a leading importer/exporter and distributor of high-purity metals, pigments and chemicals.
The LFP Demonstration Plant includes the detailed design, construction, commissioning and operation of a 250-tonne-per-annum facility over approximately 46 months (21 months’ construction and commissioning plus 24 months for operation and customer testing). Following the initial two-year operation and customer testing period, the demonstration plant will be continually used to support scale-up of new products and supply samples for new customer qualification.
“This is a key period for our VSPC LFP technology as we push towards financial close for the LFP Demonstration Plant. We have seen increased interest in our product offering since the announcement of the $30 million ARENA Grant and are looking to use this momentum to move this business forward,’ said Livium CEO and Managing Director Simon Linge. “We are ready to move this project forward and look forward to keeping the market informed of developments over the coming months.”
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