Highlights
- Positive test results boost commercialisation aspects for Lithium Australia's cathode material LFP
- NOVONIX assessment shows that VSPC's LFP was the "most stable" and can support long-lifetime cell designs
- LIT has noted that costs and safety are driving OEM manufacturers shift from nickel/cobalt chemistry to LFP
ASX-listed advanced materials development company Lithium Australia (ASX: LIT) -- which owns subsidiaries Envirostream and VSPC -- has informed about the outcome of independent test of VSPC's cathode material lithium ferro phosphate (LFP) by leading battery research and technology company NOVONIX. Notably, the assessment conducted shows that the product is "high-quality", with VSPC’s LFP emerging as the “most stable” among other LFP participants tested.
It has also come to light that VSPC's cathode material, in combination with commercial grade graphite, can produce long-lifetime cell designs.
Source: LIT ASX announcement dated 13 April 2023
Shares gain over 6%
The company's shares on ASX traded in green after the announcement, with a price of AU$0.033 and jump of over 6% at the time of writing.