ARENA grant fuels investor interest in Livium’s LFP battery technology

Livium’s wholly owned subsidiary VSPC has reported increased investor engagement following its recent A$30 million grant from the Australian Renewable Energy Agency (ARENA) for an LFP Demonstration Plant.

The company announced on Tuesday that it is actively seeking to close the remaining A$30 million funding gap for the 250-tonne per annum demonstration facility, which will showcase its lithium ferro phosphate (LFP) battery technology.

VSPC has expanded its potential customer base in recent weeks, including large electric vehicle OEMs, with combined potential product demand exceeding 300,000 tonnes per annum – 12 times the capacity of its planned 25,000-tonne commercial facility.

To strengthen its market position, VSPC has engaged United Mineral & Chemical Corporation (UMC) as its USA sales agent and has initiated discussions with potential licensors of its proprietary process in non-core jurisdictions to optimise capital expenditure.

“This is a key period for our VSPC LFP technology as we push towards financial close for the LFP Demonstration Plant,” said Simon Linge, Livium CEO and Managing Director. “We have seen increased interest in our product offering since the announcement of the A$30m ARENA Grant and are looking to use this momentum to move this business forward.”

The demonstration plant, with a total estimated cost of A$60 million, will operate for approximately 46 months, including 21 months for construction and commissioning, followed by 24 months of operation and customer testing.

The company aims to play a key role in building LFP supply chains outside China, with estimated annual revenues of US$319 million from its planned commercial facility.

Picture: credit Livium