Prayon, Pulead JV commercialize lithium iron phosphate batteries

Prayon, Pulead JV to commercialize lithium iron phosphate for batteries

9:29 AM, 5th November 2015
Prayon, Pulead JV to commercialize lithium iron phosphate for batteries

LIEGE, BELGIUM: Phosphate leader Prayon SA and Beijing, China-based, major cathode material maker Pulead Technology Industry Co Ltd and have agreed to form a joint venture for the manufacture and sale of lithium iron phosphate (LFP).

The two companies have also agreed to cooperate closely on other LFP-related raw material supply matters. Lithium iron phosphate is a type of cathode material used to store energy in lithium-ion rechargeable batteries.

The cathode material is one of the most important differentiating components of lithium ion batteries and has a major influence on the final performance and cost of a rechargeable battery. LFP offers great potential for hybrid and electric vehicle batteries, as well as for energy storage systems.

The joint venture will help meet the increasing global demand for licensed LFP. Even in the short term, demand far outstrips licensee’s production capacity. In fact, global demand for LFP is expected to grow at an average annual rate of 30 percent between 2014 and 2020, mainly driven by industrial batteries, e-buses and e-cars.

Lead acid’s replacement with LFP in batteries for micro-hybrid vehicles is set to trigger a further rise in demand from 2020 onwards. All in all, market demand worldwide is expected to increase from 25,000 metric tonne in 2015 to 100,000 tonne in 2020.

“This agreement to join forces with Prayon enable’s to meet the growing demand for LFP together. We will create value for our battery by combining our strengths -Prayon’s in-depth knowledge and experience in phosphate chemistry and Pulead’s expertise in battery materials,” said Yuan Gao, president & CEO, Pulead.

“By joining forces, we will create significant economy of scale and ensure that the increased demand for LFP is met optimally by supplying quality material with proven reliability at a competitive price,” said Yves Caprara, CEO, Prayon.

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