Lithium Australia Reaches Formal Agreement with VSPC
THE BOURSE WHISPERER: Lithium Australia (ASX: LIT) announced it has advanced the acquisition of Brisbane battery cathode developer the Very Small Particle Company Ltd (VSPC).
Lithium Australia said it, along with a number of major VSPC shareholders, has executed a binding Share Sale and Purchase Agreement, including lodgement of a transaction-specific prospectus with ASIC to facilitate the consideration payable for the acquisition of VSPC.
VSPC hold several assets that include intellectual property and a decommissioned pilot plant in Brisbane designed to produce complex metal oxides/phosphate powders for the production of lithium-ion Batteries (LIBs).
The plant incorporates not only Australia’s most advanced LIB laboratory/testing facility but also equipment for cathode coating and battery-cell production.
In its ASX announcement Lithium Australia said VSPC has researched and developed some of the world’s most innovative and respected new-era cathode material production technology.
The VSPC process – which is both simple and cost effective – can potentially deliver a wide range of cathode materials for LIBs, with superior control of product particle size and chemistry.
The process can generate superior cathode powders over a wide range of cathode chemistries.
The ability of batteries manufactured from VSPC cathode materials to out-perform industry benchmarks was recently confirmed by independent testing at a leading battery laboratory in Germany.
“The ability to utilise mine waste, unconventional lithium minerals and waste batteries in the production of high-quality cathode materials is the ultimate test of sustainability,” Lithium Australia managing director Adrian Griffin said in the company’s announcement to the Australian Securities Exchange.
“This approach will help reduce the pressure on primary sources of energy metals.
“The integrated technologies available to LIT will allow for better resource utilisation, reduce the quantity of valuable materials going to landfill and enable the rebirth of many materials as new generation LIBs.”
Email: info@lithium-au.com
Website: www.lithium-au.com
