Israeli raw materials group ICL has signed a joint venture agreement with Shenzhen Dynanonic to establish a production facility for lithium iron phosphate (LFP) cathode material in Europe. With an initial investment of approximately 285 million euros, a facility is planned in Sallent in Spain. The new production plant will be built at an existing ICL site on a former potash mining site.
Rising demand on the European market
The proposed plant is designed to meet the growing demand for LFP cathode material in the European market. The Sallent site, located approximately 100 kilometers from the port of Barcelona, offers logistical advantages with rail and road access. According to ICL, the capacity of the facility could be further expanded.
Official approvals pending
The project is subject to regulatory approvals and final investment decisions. ICL will have 80 percent ownership of the facility. As an established manufacturer of battery components, Dynanonic is intended to contribute its experience in the development of nanomaterials for cathodes.
