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- Our Next Energy (ONE) and L&F are partnering to produce IRA-compliant cathode active materials for U.S. made batteries
Our Next Energy (ONE) and L&F are partnering to produce IRA-compliant cathode active materials for U.S. made batteries
Our Next Energy Inc. (ONE), a Michigan-based energy storage technology company, and L&F, a South Korean cathode active materials (CAM) producer, have entered into a Memorandum of Understanding (MOU) to collaborate on the validation, qualification, and production of a mid to long-term supply of lithium iron phosphate (LFP) CAM.
L&F brings 17 years of experience with nickel cobalt manganese (NCM), lithium cobalt oxide (LCO), and lithium manganese oxide (LMO) chemistries, which are widely used by electric vehicle manufacturers and battery producers. The company currently operates five CAM factories in Korea and is considering potential expansion opportunities in North America.
L&F’s CAM has demonstrated performance comparable to other leading LFP cathode players in the market. The company has also completed the construction of its LFP pilot line in Korea and is now preparing to scale production. Although specific volumes have not been disclosed, the MOU could potentially provide enough CAM to meet ONE’s 20 GWh needs when the company’s factory is projected to reach full capacity in 2027.
Paul Humphries, CEO of ONE, commented, “There continues to be strong demand from U.S. companies in the transportation and stationary storage markets for IRA-compliant battery cells and packs. L&F is an experienced CAM producer from a free-trade agreement country that can provide ONE with the highest-quality material, at the volume needed, to scale our Michigan cell factory.”
Su-An Choi, CEO of L&F, added, “This is a significant milestone for L&F as the company becomes the first Korean LFP CAM manufacturer to embark on mass production of IRA-compliant materials for use in U.S.-made battery cells. With the need for cost-effective electric vehicles in the U.S. combined with the growing interest in LFP battery chemistry, L&F has moved quickly to invest in and expedite the development of CAM materials to respond to this demand.”