{kanada_flagge}Through a licensing agreement with Milton Keynes, U.K.-based Integral Power Ltd. (IPL), First Phosphate Corp. (CSE: PHOS; FRA: KD0) has secured long-term access to an advanced method for formulating LFP active cathode material. At the same time, First Phosphate has acquired 7,386 common shares of IPL at a price of CAD $83,060.35 and has the right to make follow-on investments in future financing rounds. IPL had recently completed an oversubscribed equity investment round, which was co-funded by a UK government-sponsored project to develop a pilot plant for LFP battery material. The IPL pilot plant is expected to be operational by the end of 2023.
{kanada_flagge}Through a licensing agreement with Milton Keynes, U.K.-based Integral Power Ltd. (IPL), First Phosphate Corp. (CSE: PHOS; FRA: KD0) has secured long-term access to an advanced method for formulating LFP active cathode material. At the same time, First Phosphate has acquired 7,386 common shares of IPL at a price of CAD $83,060.35 and has the right to make follow-on investments in future financing rounds. IPL had recently completed an oversubscribed equity investment round, which was co-funded by a UK government-sponsored project to develop a pilot plant for LFP battery material. The IPL pilot plant is expected to be operational by the end of 2023.
IPL’s technology features improvements that are expected to enable the production of LFP batteries with simplified cooling systems, greater compactness, smaller footprint, and lower preheat requirements at colder temperatures. Some of the benefits include: Increased capacity at high discharge rates, High capacity retention at ambient and extreme ambient temperatures, and Lower cost or higher capacity.
According to First Phosphate, the agreement between the parties was entered into on January 10, 2023, and became effective on March 24, 2023. The agreement provides for the following mutually beneficial perpetual arrangements: IPL will validate First Phosphate’s LFP-grade purified phosphoric acid and ferrous sulfate for use in LFP battery cells. IPL’s manufacturing process for LFP active cathode material will use First Phosphate’s purified phosphoric acid and LFP-grade ferrous sulfate. IPL is licensing First Phosphate’s LFP production technology to produce LFP cathode active material at any production facility First Phosphate builds in Quebec, Canada or elsewhere in North America. First Phosphate and IPL plan to leverage First Phosphate’s access to green hydroelectric power in the Saguenay-Lac-St-Jean region of Quebec.
“We visited IPL’s facilities in the United Kingdom and were able to see and touch the active LFP cathode material produced by IPL,” said John Passalacqua, CEO of First Phosphate. “We also looked at the performance protocols of test battery cells made with IPL’s active LFP cathode material. We are cautiously optimistic that IPL technology could be the answer to improved LFP battery performance.”
“There is the traditional solid-state method for producing LFP active cathode material from ferrophosphate and lithium phosphate precursors, which is currently the main production formula in China. In addition, there are promising new advanced hydrothermal processes, such as those developed by IPL, that can produce higher-performance LFP batteries,” said Peter Kent, president of First Phosphate. “We believe it makes sense for the company to have access to IPL’s advanced method of formulating the active LFP cathode material.”
“We are pleased to be working with First Phosphate to gain strategic access to purified phosphoric acid and LFP-grade ferrous sulfate, which will be in short supply in the near future as LFP production comes on line in the Western world,” said Behnam Hormozi, chief executive officer of IPL. “We need a development partner like First Phosphate that is fully committed to the LFP battery industry, to low carbon footprint, to ESG compliance, to conflict-free ethical sourcing, to traceable and secure supply, and to just-in-time delivery. These are all strategic manufacturing advantages for IPL and our customers.”
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According to §34b WpHG i (Germany) and according to Paragraph 48f paragraph 5 BörseG (Austria) we would like to point out that principals, partners, authors and employees of GOLDINVEST Consulting GmbH hold or may hold shares of First Phosphate and therefore a possible conflict of interest exists. We also cannot exclude that other stock letters, media or research firms discuss the stocks we recommend during the same period. Therefore, symmetrical information and opinion generation may occur during this period. Furthermore, there is a contractual relationship between First Phosphate and GOLDINVEST Consulting GmbH, which includes that GOLDINVEST Consulting GmbH writes about First Phosphate. This is another clear conflict of interest.
