ITRI will transfer LMFP battery technology to HCM. The government-funded battery manufacturing pilot line will also be set up in HCM.
HCM is the first company in the world to mass-produce lithium manganese iron phosphate (LMFP) and is also the only cathode material maker that has research and development capabilities of both equipment and material. Today (February 9, 2023), HCM and the Industrial Technology Research Institute (henceforth ITRI) held a signing ceremony in HCM for "next-generation battery collaboration". Through the collaboration, ITRI will transfer LMFP battery technology to HCM. In addition, the government-funded battery manufacturing pilot line will also be set up in HCM.
HCM, which will be IPO in the third quarter of this year, acquired the LMFP cathode material technology from ITRI 12 years ago. Based on 25 years’ experience of self-made material equipment, HCM has continuously been improving its LMFP material and has obtained numerous strategic patents. Performance of HCM’s LMFP cathode material has been internationally recognized as world-leading.
Because the LMFP has 20% higher energy density than LFP and maintains the advantages of LFP in safety, cost and life, LMFP is regarded as the most promising next generation cathode material. In recent years, many companies around the world have invested in research and development of LMFP materials and batteries.
This year, HCM will invest in a mass production demonstration line with an annual production capacity of 1,500 tons, laying out for the future 10,000-ton factory. In response to the needs of different customers, HCM provides four business models: 1. Supplying LMFP material, 2. Transferring LMFP Material Technology, 3. Joint venture, 4. Supplying equipment for mass production of materials.
Tony Chen, Chairman of HCM, said that the company has been working closely with ITRI and achieved a remarkable strategic position. In recent years, the company has been supplying LMFP to many mainstream car manufacturers and battery factories in Europe, the United States, Japan and South Korea, etc., many of which are also collaborating with ITRI on LMFP cell development.
Li Zongming, Director of Materials and Chemical Research Lab. of ITRI, said that LMFP batteries are regarded as the most promising next generation batteries for EVs and ESS. Given that HCM has rich experience in research and development of materials and equipment, the collaboration between ITRI and HCM is expected to accelerate commercialization of LMFP batteries and is, no doubt, a typical win-win situation.
Today's signing collaboration with ITRI will certainly further secure HCM's global leadership in LMFP.
