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Lithium Australia Ace Cathode Test

13 April 2023 16:01
ASX: LIT
Lithium Powder

Lithium Australia has confirmed the high quality of the lithium cathode product produced by its subsidiary VSPC through independent testing by leading battery technology company NOVONIX Battery Technology Solutions.

VSPC’s cathode was tested against that of two leading competitors with VSPC LFP showing the lowest rate of capacity fade during UHPC testing and the highest electrochemical stability of the three LFP materials tested, with cells utilising VSPC LFP combined with NOVONIX graphite demonstrating the strongest performance of all material combination.

These results indicate that VSPC’s LFP has the potential to support long-lifetime cell designs that are ideal for a range of applications in the electric vehicle and energy industries, including the growing e-bike and e-scooter markets.

Results have reconfirmed LIT’s commitment to LFP cathode manufacturing technology, providing customers with a solution to diversifying supply chain risks and security of supply with pre-qualifications in key jurisdictions such as North America, Europe and Australia already in progress.

According to a report by Benchmark Mineral Intelligence in February, LFP chemistry batteries are growing in popularity among automotive manufacturer as it is cheaper and longer lasting than their competitors based on nickel and cobalt chemistry.

EV leader Tesla is already using LFP cells, with other giants like Hyundai, Mercedes and Volkswagen expected to follow as they attempt to satiate the growing demand for electric vehicles.

The company said that these results will provide further support for offtake discussions.

“These independent results from NOVONIX confirm our belief that we have an LFP battery cathode material that currently competes with the best in the market. The results assist us in our current discussions with potential offtake partners and, consequently, take us one step closer to bringing our pre-qualification plant to realisation,” Chief Executive Simon Linge said.

LIT’s Australian Stock Exchange-listed share price has risen 6.06 per cent today, currently selling at 3.4c (3:27 pm UTC+ 8 hours).

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