Our Next Energy Inc. and L&F have signed a Memorandum of Understanding (MOU) to collaborate on the validation, qualification and production of a mid to long-term supply of lithium iron phosphate (LFP) cathode active materials (CAM). L&F has 17 years of CAM experience with nickel cobalt manganese (NCM), lithium cobalt oxide (LCO) and lithium manganese oxide (LMO) chemistries used by established electric vehicle manufacturers and battery producers. The company has five existing CAM factories in Korea and is exploring potential opportunities for future expansion to North America.

L&F?s CAM has already achieved similar performance compared to other leading LFP cathode players in the market. L&F also completed the construction of its LFP pilot line in Korea and is now preparing to scale production. While specific volumes were not disclosed, the MOU could provide enough CAM to meet ONE?s 20 GWh needs when the company?s factory is scheduled to be at capacity in 2027.