Page 172 - CW E-Magazine (14-5-2024)

News from Abroad

COLLABORATION
LG Chem and Factorial ink deal to develop solid-state

batteries

Factorial, a US-based developer of “Through this collaboration, we Mr. Siyu Huang, CEO of Factorial,
solid-state battery technology for elec- will become technology leaders in the said, “The electric vehicle industry is
tric vehicle (EV) applications, and LG field of next-generation batteries,” said at the cusp of a much-needed break-
Chem, a South Korean chemicals and Mr. Jong-ku Lee, CTO of LG Chem. through in battery technology, and
battery materials firm, have announced “We expect to secure solid-state materials we believe that close supply chain
the signing of a memorandum of under- through Factorial’s accumulated experi- partnerships will help accelerate this
standing (MoU) to accelerate the deve- ence in next-generation batteries and LG transition. Together with LG Chem,
lopment of solid-state battery materials. Chem’s superior material technology.” we are advancing the development of
critical solid-state battery technology
The agreement seeks to combine In addition to its core business of that will unlock the electric vehicle
LG Chem’s battery material capabili- cathode materials, LG Chem produces future.”
ties and Factorial’s next-generation bat- a variety of battery materials such as
tery material and process innovations. separators, conducting agent and binder, Factorial’s proprietary FEST (Fac-
Upon successful completion of the pro- and is actively conducting R&D and torial Electrolyte System Technology)
ject, the two companies agreed to fur- external collaborations to strengthen its solid-state batteries are said to have the
ther discuss technology licensing and R&D capabilities for new materials in potential to radically reduce EV weight,
material supply to maintain a strategic response to changes in next-generation extend driving range, reduce charging
partnership for market leadership. battery technology. time and improve safety.

MAGNET MANUFACTURING
Neo Performance Materials looks to source rare

earth oxides from Brazil

Canada-based Neo Performance
Materials Inc. has entered into a
non-binding Memorandum of Under-
standing (MoU) with Australia-head-
quartered Meteoric Resources for
offtake of 3,000-tonnes of total rare
earth oxide (TREO) per year from
Meteoric’s Caldeira Project in Minas
Gerais, Brazil, to supply Neo’s magnet
manufacturing plant. Sillamäe, Estonia, is expected to pur- of Nd-Pr oxide and 30-tonnes of
chase 3,000-tonnes of TREO per year Dy-Tb oxide, combined, to supply
The MoU provides the framework from the Caldeira Project’s initial pro- Neo’s sintered rare earth permanent
for the parties to negotiate a binding duction, and hold a right of first refusal magnet manufacturing plant under
commercial offtake agreement for the to purchase additional material when development in nearby Narva, Estonia.
supply of mixed rare earth carbonate the Caldeira Project produces more
(MREC) from the Caldeira Project. than 6,000-tonnes TREO per year. Meteoric expects to obtain a con-
struction permit by Q4 2025 and aims to
Under the contemplated offtake Annual offtake of 3,000-tonnes commence MREC production during the
agreement NPM Silmet OÜ (Silmet), TREO from the Caldeira Project could second half of 2027. The Minas Gerais
Neo’s rare earth separation facility in supply Neo with as much as 900-tonnes region is one of the world’s largest pro-

172 Chemical Weekly May 14, 2024

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