IBU-tec advanced materials AG concluded Memorandum of Understanding with the Norwegian battery producer Morrow Batteries on the supply of LFP cathode material for a pilot plant of up to 200 t per year. IBU-tec will supply the first batches of its own IBUvolt battery material for current year testing. During this phase, both companies intend to work together on the development of high-performance batteries for various applications.

Long term, The company anticipates a rapidly growing business market for a sustainable, European production, battery materials supply chain. IBU-tec first offered its own LFP battery material in October 2021 and can now fulfill the first major orders. IBU-tec is presently the only manufacturer in Europe producing and supplying LFP battery materials.

The company has many years of experience in the development and manufacture of the material, which has a variety of usage applications such as batteries for electric vehicles, stationary energy storage or industrial and medical applications.