Lithium Australia confirms VSPC process
Lithium Australia has confirmed the Very Small Particle Company process was capable of producing quality lithium iron phosphate cathode material.
Newsbites FinanceNOVEMBER 2, 20174:20PM
Lithium Australia (ASX: LIT) has confirmed the Very Small Particle Company process was capable of producing lithium iron phosphate (LFP) cathode material that is equivalent to or better than the LFP standard reference cathode material.
LFP is a safe cathode material that is used in lithium ion batteries for grid and off-grid energy storage (solar and wind power storage) and e-bus applications. The electrical energy storage sector is rapidly expanding, driven by the need to increase baseload capacity of networks which are being increasingly supplied from renewable sources.
The material was produced in 2012 at its pilot facility in Brisbane Australia and was recently tested for electrochemical properties by an independent laboratory in Germany (Custom Cells Itzehoe GmbH).
Testing was performed on coin cells manufactured from the VSPC LFP product and on a standard reference LFP material. The VSPC product performed well compared with the laboratory standard reference material, demonstrating good cycling stability, as well as higher potentials and higher discharge capacities compared to the standard reference material.
The company last week completed due diligence for the acquisition of advanced cathode material producer, VSPC. The acquisition provides LIT with proprietary processes for the production of lithium ion battery cathode material, a comprehensive pilot plant and advanced laboratory and testing facilities.
Applying the technology to the direct production of cathode materials would potentially remove two process steps involved in the manufacture of cathode materials, resulting in a process which would capitalise on the value add generated by progressing from lithium chemicals to cathode materials.
Shares in LIT have responded positively to these recent developments, increasing more than 50 percent in October to hit a 12 month high of 21.5 cents.
