L&F Plus, a subsidiary of L&F, said Monday that it has signed a memorandum of understanding (MOU) for iron oxide supply cooperation with Hyundai Steel to secure materials necessary for manufacturing lithium iron phosphate (LFP) cathode materials.
Through this agreement, L&F Plus aims to establish a foundation for securing raw materials required for the development of its next-generation precursor-free process and to enhance the manufacturing competitiveness of LFP cathode materials. The two companies will cooperate on the supply of iron oxide for LFP cathode material production, and L&F Plus plans to utilize this in developing LFP cathode materials using the precursor-free process.
The precursor-free process is a method that omits the Iron Phosphate (FP) precursor stage traditionally used in LFP cathode manufacturing by directly reacting iron oxide raw materials, a byproduct of the steel industry, with lithium and phosphate raw materials to produce LFP cathode materials. L&F Plus is pursuing this approach to improve manufacturing process efficiency and secure cost competitiveness, while also diversifying its raw material procurement structure, which has previously been centered on precursors.
L&F Plus is conducting technology development activities with the goal of commencing mass production in the first quarter of 2028. It is also working to secure space within its LFP factory for future mass production. Given that this technology is a next-generation process with high technical difficulty, the company is focusing on securing product performance and manufacturing competitiveness, and plans to gradually advance mass production application based on development and verification results.
Kwon Hyok-won, head of the Production Technology Division at L&F Plus, stated, "It is significant that we have established a foundation for raw material supply cooperation necessary for developing our next-generation precursor-free process."
He added, "Along with expanding our mass production capabilities for LFP cathode materials, we will continue to advance the refinement of raw material and process technologies. We aim to build differentiated product competitiveness and stable supply capabilities to meet global customer demand."
Meanwhile, L&F Plus is a 100% subsidiary of L&F dedicated to the production and sales of LFP cathode materials. Starting from the end of the third quarter this year, it has begun mass-producing LFP cathode materials with an annual capacity of 30,000 tons and is currently supplying multiple customers for North American Energy Storage Systems (ESS).
The company plans to secure a production capacity of up to 60,000 tons annually by the first half of 2027. It has decided to strengthen its business competitiveness by responding to the ESS and affordable Electric Vehicle (EV) markets based on high-density third-generation LFP cathode materials with a packed density (PD) of 2.50 g/cc or higher.
in INDUSTRY
