The Company has signed a MOU with a subsidiary of US-listed ICL Group Ltd regarding authorized production and licensing of LFP battery materials. (Supplement)
· Issued by Advanced Lithium Electrochemistry (cayman) Co. Ltd.
The Company has signed a MOU with a subsidiary of
US-listed ICL Group Ltd regarding authorized production
and licensing of LFP battery materials. (Supplement)
Date of events
2022/07/08
To which item it meets
paragraph 53
Statement
1.Date of occurrence of the event:2022/07/08
2.Company name:Advanced Lithium Electrochemistry (Cayman) Co., Ltd.
3.Relationship to the Company (please enter "head office" or
"subsidiaries"):head office
4.Reciprocal shareholding ratios:N.A.
5.Cause of occurrence:
The Company has signed a Memorandum of Understanding (MOU) with a subsidiary
of US-listed ICL Group Ltd.(NYSE:ICL;TASE:ICL) ("Counterparty"), regarding
production and licensing of LFP and LFMP battery materials on May 17,2022.
The Company will license patents and production technology of LFP and LMFP
battery materials to Counterparty to accelerate the development of cathode
material production in the United States.
Plans call for Counterparty to locate this production at its manufacturing
campus in St. Louis, which is also its North American headquarters and where
the company has a global R&D center. Initial estimates are targeting 30,000
metric tons of LFP production per year, with capacity ramping up over a
three-year period.
6.Countermeasures:None.
7.Any other matters that need to be specified:
The technology licensing model can only be determined after signing a formal
contract with Counterparty. For the above information, investors should make
careful judgment to protect their own rights and interests.
