Ann: VSPC cathode powder meets performance specifications, page-17

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China

Evaluation of VSPC’s Gen 4 LFP cathode material commenced in March 2019 at DLG’s R&D facility in Shanghai, China. The materials – assessed in a commercial 18650 battery-cell format – were tested under a range of electrochemical and temperature conditions and subjected to long-term cycle testing. It was concluded that VSPC’s LFP material met DLG’s stringent specifications for use in lithium-ion battery (‘LIB’) cells for both power and energy applications

LIT signed a letter of intent ('LoI') with leading Chinese battery producer DLG Battery Co., Ltd. and has incorporated a 50:50 jointly owned business, Soluna Australia Pty Ltd for the exclusive supply and sale of Soluna Battery packs and modules in Australia, and will form a technology alliance that will fast-track the commercialization of VSPC's patented cathode powder technology for use in DLG batteries. Meeting DLG’s stringent cathode material specification is an important precursor to DLG agreeing to purchase VSPC LFP battery cathode product for use in its batteries.

VSPC is now establishing a supply chain for delivery, in 2021, of LFP to various LIB cell makers in China, including DLG. Target applications include LIB cells for energy storage and large transport vehicles.