ICL signs JV agreement to produce lithium iron phosphate for European market

ICL (ICL) has signed a joint venture – JV – agreement with Shenzhen Dynanonic to establish lithium iron phosphate, or LFP, cathode active material production in Europe, with an initial investment of approximately EUR285M. A new facility at ICL’s Sallent, Spain, site is currently in planning stages and will substantially expand the company’s battery materials business. ICL is to repurpose this location and to revitalize the roughly 25 acres of available land. The JV agreement is subject to material conditions precedent, final investment estimates and regulatory approvals. ICL’s share in the facility in Spain will be 80%, with the potential for modifications, pending further investment opportunities.