ICL Group, Aleees Sign Memorandum of Understanding

By Denny Jacob

Specialty minerals company ICL Group Ltd. said Thursday it signed a memorandum of understanding with Aleees, a Taiwanese manufacturer of lithium iron phosphate battery cathode materials.

Aleees will grant licensed technology on lithium iron phosphate to ICL, and will provide the company with technical information and support services to accelerate the development of cathode material production in the U.S. as part of the understanding, ICL said.

Plans call for ICL to establish production of 30,000 metric tons, and to ramp up in the future, for lithium iron phosphate battery cathode materials at its manufacturing campus in St. Louis, the company said.

Write to Denny Jacob at [e-mail]

(END) Dow Jones Newswires

07-07-22 1715ET