- Lithium Australia’s (LIT) subsidiary, VSPC, has been granted a patent for its proprietary cathode material manufacturing process
- VSPC is developing efficient and sustainable process technologies to manufacture materials for lithium-ion batteries.
- The intellectual property protection for the VSPC process will last 20 years
- Managing Director Adrian Griffin says the patent is a great step forward for the company
- On the market this morning, Lithium Australia is up 8.70 per cent and is trading at 12.5 cents per share
Lithium Australia’s (LIT) subsidiary, VSPC, has been granted a patent for its proprietary cathode material manufacturing process.
VSPC is developing efficient and sustainable process technologies to manufacture materials for lithium-ion batteries.
Over the past two years, VSPC has simplified its process for the production of lithium metal phosphate cathode powders, allowing the use of a broader range of raw materials as feed.
This significantly reduces the cost of manufacturing lithium ferro phosphate and other lithium metal phosphate materials.
The intellectual property protection for the VSPC process will last 20 years.
Managing Director Adrian Griffin says the patent is a great step forward for the company.
“Lithium Australia and VSPC can now provide practical solutions for electric vehicle manufacturers seeking cobalt-free batteries,” he said.
“Patent protection will provide us with a significant cost advantage in the production cycle of what is currently the most rapidly expanding sector of the battery industry,” he added.
On the market this morning, Lithium Australia is up 8.70 per cent and is trading at 12.5 cents per share at 11:40 am AEDT.