IBU-Tec Advanced Materials has signed a Memorandum of Understanding with Norwegian battery producer Morrow Batteries for the supply of LFP cathode material for a pilot plant of up to 200 tonnes per year.
According to the agreement, IBU-Tec will supply the first batches of its own battery material from the IBUvolt product family for trials in the current year. The company had recently presented details of the IBUvolt family.
IBU-Tec says it is the only manufacturer in Europe that already produces and delivers LFP battery materials itself. In the meantime, IBU-Tec says it is able to “serve the first larger orders”. This is likely to be Blackstone Technology, the first known customer for IBU-Tec’s LFP cathode material.
At this stage, the agreement is only for the supply of the pilot plant, not for the larger quantities for series production. The fact that both companies are aiming for a longer partnership and that IBU-Tec apparently has good prospects of also becoming one of the suppliers for series production is shown by another agreement: both companies want to work together in this phase on the development of high-performance batteries for various applications. In the long term, this should result in a strongly growing business with a sustainable supply chain for battery materials from European production.
Morrow Batteries entered into a cooperation with Vianode on cathode materials last year. Morrow is also working with the South Korean group Posco on the development of cathode and anode materials. Here, too, the development cooperation should lead to a long-term volume supply contract. Morrow’s battery factory is currently being built in Arendal in southern Norway.
“With the Morrow Batteries agreement, we are strengthening our market position as a European supplier of high-quality LFP battery material and making ourselves independent of Asian supply chains,” says Arndt Schlosser, CSO of IBU-Tec Advanced Materials. “The development partnership with Morrow Batteries allows us to further hone our expertise in the continuous improvement of our own material.”
Terje Andersen, CEO of Morrow Batteries, added: “Morrow’s vision is to create the most cost-effective and sustainable battery cells. The development of European based battery material supply chains is a critical component of that vision.”
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