IBU-tec advanced materials AG and Norge Mining Ltd. have signed a strategic cooperation letter of intent. With this agreement, IBU-tec will have access to the largest phosphate reserves in the world. IBU-tec sustainably secures raw materials for the production of battery materials as part of its long-term growth strategy.

These raw materials can be used in batteries for e-mobility, among other things. Several international vehicle manufacturers use such raw materials in their lithium iron phosphate (LFP) batteries. The agreement reached with Norge Mining means that IBU-tec's needs can now be met in large quantities with the corresponding precursor products from a Norwegian source.

At approximately 70 billion tons, Norge Mining controls the worlds' largest phosphate rock deposits. In addition to the phosphate reserves, both titanium and vanadium can be made market available in the near future, sourced both in and for the benefit of Western European economies. IBU-tec and Norge Mining will work together with phosphate-containing materials in the manufacture of precursor products.

The first phase will consist of exchanging information regarding industrial production planning for the various precursor products obtained from southern Norway's raw materials mines. IBU-tec's production expertise, specifically regarding product customization ability with LFP accumulators is of great production importance in addition to the ability to supply IBU-tec with Norwegian precursor products. Given the volatile current supply situation, as the only European manufacturer of LFP battery materials to date, IBU-tec is taking seriously the responsibility of regionally securing the supply vital raw materials.

LFP batteries are increasingly being used in electromobility and stationary energy storage, among other things. Thus forming an important part of the implementation of the global energy transition.