ICL (NYSE: ICL) (TASE: ICL), a leading global specialty
minerals company, today announced it has signed a memorandum of
understanding (MOU) with Aleees, a Taiwanese manufacturer of
lithium iron phosphate (LFP) battery cathode materials. As part of
the understanding, Aleees will grant licensed technology on LFP to
ICL and will also provide the company with technical information
and support services to accelerate the development of cathode
material production in the United States.
Plans call for ICL to establish production of 30,000 metric
tons, and also future ramp up, for LFP battery cathode materials at
its manufacturing campus in St. Louis, which is also its North
American headquarters and where the company has a global R&D
center.
“We’re looking forward to collaborating with Aleees, a premier
LFP technology provider, with customers in Japan, South Korea,
Europe and the United States,” said Philip Brown, president of ICL
Phosphate Specialties and managing director of North America. “ICL
is excited to lead the establishment of a localized, integrated,
sustainable supply chain of LFP battery materials for U.S.-based
customers and to reduce the risk for U.S. companies currently
dependent on foreign supply of LFP materials.”
“The global energy storage market has clearly shifted toward LFP
batteries as the dominant, more sustainable, safer and
cost-effective solution, and we expect our future production to be
exclusively dedicated to this area, with our demand estimated to
surpass 170,000 metric tons by 2025, and 500,000 metric tons by
2028,” said Edward Chang, president of Aleees.
About ICL
ICL Group is a leading global specialty minerals company, which
also benefits from commodity upside. The company creates impactful
solutions for humanity's sustainability challenges in the global
food, agriculture and industrial markets. ICL leverages its unique
bromine, potash and phosphate resources, its passionate team of
talented employees, and its strong focus on R&D and
technological innovation, to drive growth across its end markets.
ICL shares are dually listed on the New York Stock Exchange and the
Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs
more than 12,000 people worldwide, and its 2021 revenues totaled
approximately $7 billion.
For more information, visit ICL's website at www.icl-group.com.
To access ICL's interactive ESG report, please click here. You can
also learn more about ICL on Facebook, LinkedIn and Instagram.
About Aleees
Aleees is a manufacturer of lithium iron phosphate battery
cathode materials, with a number of world-famous battery, electric
vehicles and energy storage customers in Japan, Korea, Europe and
the United States. Aleees develops and produces lithium iron
phosphate battery cathode materials with high-quality, high
cost-performance and high life-cycle. In the 17 years since its
establishment, the cumulative shipment has exceeded 15,000 tons,
and the cumulative revenue has been nearly $250 million. Adhering
to the concept of "sustainable human survival and
environment-friendly," Aleees won the National Sustainable
Development Award in 2013. In respect of corporate governance,
Taiwan Stock Exchange (TWSE) has jointly conducted governance
evaluations, and Aleees has been ranked among the top 5% of all
listed companies in Taiwan for seven consecutive years, remarkable
achievements in corporate governance.
Forward Looking Statements
This announcement contains statements that constitute
forward‑looking statements, many of which can be identified by the
use of forward‑looking words such as “estimate,” “anticipate,”
“believe,” “could,” “expect,” “should,” “plan,” “intend” and
“potential,” among others.
Forward-looking statements appear in this press release and
include, but are not limited to, statements regarding the company’s
intent, belief or current expectations, including LFP battery
cathode materials production estimates. Forward-looking statements
are based on management’s beliefs and assumptions and on
information currently available to management. Such statements are
subject to risks and uncertainties, which are derived from, among
other things, that the non-binding MOU, as the underlying
transaction, depends and relies upon the fulltime of certain
conditions. Actual results may differ materially from those
expressed or implied in the forward-looking statements due to
various factors, including, but not limited to: estimates,
forecasts and statements as to management's expectations with
respect to, among other things, the consummation of those certain
conditions, which the MOU and entire transaction are subject to,
business and financial prospects, financial multiples and accretion
estimates, future trends, plans, strategies, positioning,
objectives and expectations, general economic, market and business
conditions, supply chain and logistics disruptions, LFP market
growth, which is dependent, among other things, on energy storage
and electric vehicle growth, the potential for new COVID-19
variants, global unrest and conflict, governmental and regulatory
requirements and actions by governmental authorities, including
changes in government policy, changes in environmental, tax and
other laws or regulations and the interpretation thereof. As a
result of the foregoing, readers should not place undue reliance on
the forward‐looking statements contained in this press release
concerning the estimated production quantities, timing of the
transaction, or other more specific risks and uncertainties facing
ICL, such as those set forth in the “Risk Factors” section of its
Annual Report on Form 20-F filed on February 23, 2022, as such risk
factors may be updated from time to time in its Current Reports on
Form 6-K and other filings ICL makes with the U.S. Securities and
Exchange Commission from time to time.
Forward-looking statements refer only to the date they are made,
and the company does not undertake any obligation to update them in
light of new information or future developments or to publicly
release any revisions to these statements in order to reflect later
events or circumstances or to reflect the occurrence of
unanticipated events.
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version on businesswire.com: https://www.businesswire.com/news/home/20220707005716/en/
Investor Relations Contact Peggy Reilly Tharp VP, Global
Investor Relations +1-314-983-7665
Peggy.ReillyTharp@icl-group.com
Press Contact Adi Bajayo External Communications Director
+972-3-6844459 Adi.Bajayo@icl-group.com
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