Lithium Australia to produce lithium-ion cathode powder
Lithium Australia NL (ASX:LIT) has finalised its acquisition of advanced cathode material production technology, acquiring 99.7% of the equity in Brisbane-based technology company — the Very Small Particle Company (VSPC).
Cathode powder producer, VSPC, has spent 14 years and approximately A$30 million developing some of the world’s most advanced manufacturing techniques for the production of cathode materials. These materials are critical components of lithium-ion batteries, that’s experiencing burgeoning consumption driven by rapidly increasing demand for EVs and consumer electronics. The advanced battery materials being developed by VSPC are also applicable to green energy solutions, including as back-up for sources of renewable energy.
Since the takeover was laid out in February, time-critical service agreements have been negotiated, recruitment of technical and operating staff has commenced, and service agreements have been arranged with universities to support the project’s technical demands.
And now, plant inspections and servicing are underway, and equipment upgrades are being evaluated in preparation to resume production in July 2018.
The VSPC facility is a 2 to 4 tonnes-per-annum pilot plant that incorporates an integrated laboratory, coin-cell production facility and battery-testing equipment.
LIB cell assembly area inside VSPC's laboratory:
Overall this is an early stage play and as such any investment decision should be made with caution and professional financial advice should be sought.
LIT Managing Director Adrian Griffin said, “Recommissioning the VSPC pilot plant is a challenging task, but many of the past scientific and operating staff have made themselves available to ensure success. We welcome their assistance and participation in our plan to provide the world’s battery producers with the best available cathode materials.”