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Our Next Energy Inc. (ONE), a Michigan-based pioneer in energy storage technology, has joined forces with L&F, a leading South Korean producer of cathode active materials (CAM), marking a strategic move in the production of lithium iron phosphate (LFP) CAMs for American-manufactured batteries. This collaboration, established through a Memorandum of Understanding (MOU), aims to ensure the validation, qualification, and long-term supply of LFP CAM, crucial for the burgeoning U.S. battery market.
Key Highlights:
- Strategic Partnership: ONE and L&F to collaborate on LFP cathode active materials.
- Experienced Production: L&F brings 17 years of experience in CAM production.
- Expansion Plans: L&F explores potential for North American CAM factories.
- IRA Compliance: The partnership focuses on IRA-compliant materials for U.S. markets.
- Production Milestone: L&F to begin mass production of IRA-compliant LFP CAM.
L&F, with 17 years of CAM production expertise, possesses a deep understanding of various CAM chemistries, including nickel cobalt manganese (NCM), lithium cobalt oxide (LCO), and lithium manganese oxide (LMO), serving top electric vehicle manufacturers and battery producers. With five operational CAM factories in Korea, L&F is actively considering North American expansion to cater to the increasing demand for IRA-compliant battery cells and packs.
Paul Humphries, CEO of ONE, emphasized the strong demand in the U.S. for IRA-compliant battery components, praising L&F’s capacity to supply high-quality materials in volumes sufficient to scale ONE’s Michigan cell factory.
L&F has matched the performance of leading LFP cathode players and has completed a pilot LFP line in Korea, gearing up for mass production. Su-An Choi, CEO of L&F, highlighted the company’s swift response to the U.S. demand for cost-effective electric vehicles and the growing interest in LFP battery chemistry, positioning L&F as a pioneering Korean LFP CAM manufacturer for U.S. battery cells.
The collaboration between ONE and L&F, while not disclosing specific volumes, is poised to meet ONE’s 20 GWh needs by 2027, signifying a major leap forward in U.S. battery manufacturing capabilities.
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