First Phosphate Corp. (CSE:PHOS) said it has signed a memorandum of understanding (MOU) with Belgium-based Prayon SA, Europe’s largest producer of phosphoric acid, to accelerate its integration plan for the North American lithium iron phosphate (LFP) battery industry.
In a statement, First Phosphate said it was building a strategic transatlantic relationship with Prayon to enable Europe and North America to gain green energy and critical mineral independence.
The company said the MOU engages the parties to collaborate towards assessing feasibility and potential partnership in the areas of phosphate concentration production and offtake; LFP grade phosphoric acid toll processing; license for LFP grade phosphoric acid production facility; and development of LFP cathode active material manufacturing plant.
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First Phosphate president Peter Kent noted that the LFP battery already represented a leading globally accepted battery chemistry but it still has limited domestic manufacturing supply in Europe and North America.
“Today’s announcement sows the seeds to onshore that production capacity in North America,” Kent said.
“Let’s not forget that LFP battery technology was originally developed decades ago in partnership with researchers in Quebec, Canada, the United States and Europe.”
Prayon chief technology officer Marc Collin said the company was pleased to cooperate with First Phosphate and to test implement its recognized technologies for the production and treatment of high-grade phosphoric acid intended to supply the LFP battery industry in North America.
“The opportunity of partnership with First Phosphate is an important step in our global diversification initiatives,” Collin said.
First Phosphate is a mineral development company fully dedicated to extracting and purifying phosphate for the production of cathode active material for the LFP battery industry.
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