A spearhead project to meet the needs of the developing market
We are evaluating the feasibility of establishing a production plant for lithium iron phosphate cathode material (LFP CAM). It is a key material in manufacturing large batteries for energy storage and increasingly used to make electric car batteries.
The environmental impact assessment programme for the production plant was submitted to the coordinating authority in January 2023 and the report in May 2023. The two production capacity options assessed in the EIA procedure are 20,000 and 60,000 tonnes of LFP CAM per year.
Our partner FREYR Battery is listed on the New York Stock Exchange.
The product is LFP cathode active material
LFP CAM is based on lithium, phosphate and iron. It is used in battery cell plants to make the most valuable part of the battery cell, the cathode.
The goal is to implement a spearhead project for LFP CAM production in Europe to meet the needs of the developing market.
A cluster of battery material plants in Vaasa
The projects in the Vaasa region are an essential part of our development work related to the battery value chain. If the projects get the go-ahead, the LFP cathode material and anode material plants will form a significant cluster of battery material production in the GigaVaasa industrial site.