Enhancement of Anode Materials for Lithium-ion Battery Business
-Commencement of Feasibility Studies with South Korean Company L&F-
June 23, 2023
The Mitsubishi Chemical Group (the MCG Group) is pleased to announce that it has concluded a memorandum of understanding with Korean company L&F Co., Ltd. (headquartered in Daegu, South Korea; CEO: Choi Su An; hereinafter “L&F”), a global manufacturer of cathode active materials for secondary lithium-ion batteries. The purpose is to conduct feasibility studies into strengthening the supply chain for anode materials in countries that have concluded a free trade agreement with the U.S.
Anode materials made from natural graphite, one of MCG Group’s strengths, emit less GHGs during the production process and have an excellent life cycle assessment. In addition, the MCG Group has developed patented proprietary technology that suppresses swelling in anode materials, which impacts battery life, and plans to start mass production in 2024.
With the establishment of the 2022 Inflation Reduction Act (IRA) in the United States, automakers and battery cell manufacturers are actively promoting production and procurement for automotive batteries that conforms to the IRA.
To meet this demand, the MCG Group will work with L&F, which has a proven track record as a manufacturer of active cathode materials for LIBs, to explore the possibility of strengthening the anode material supply chain. With the conclusion of this memorandum of understanding, the MCG Group and L&F will consider specific details of cooperation and business schemes within countries that have concluded a free trade agreement with the U.S.
L&F Company Profile
Location :Daegu, South Korea
Establishment :2000
Business description : Manufacturing and sales of LIB active cathode materials
Corporate website : http://eu.landf.co.kr/index.html
Anode materials made from natural graphite, one of MCG Group’s strengths, emit less GHGs during the production process and have an excellent life cycle assessment. In addition, the MCG Group has developed patented proprietary technology that suppresses swelling in anode materials, which impacts battery life, and plans to start mass production in 2024.
With the establishment of the 2022 Inflation Reduction Act (IRA) in the United States, automakers and battery cell manufacturers are actively promoting production and procurement for automotive batteries that conforms to the IRA.
To meet this demand, the MCG Group will work with L&F, which has a proven track record as a manufacturer of active cathode materials for LIBs, to explore the possibility of strengthening the anode material supply chain. With the conclusion of this memorandum of understanding, the MCG Group and L&F will consider specific details of cooperation and business schemes within countries that have concluded a free trade agreement with the U.S.
L&F Company Profile
Location :Daegu, South Korea
Establishment :2000
Business description : Manufacturing and sales of LIB active cathode materials
Corporate website : http://eu.landf.co.kr/index.html
