By Nick Carey
LONDON (Reuters) – UK startup Integrals Power said on Tuesday it has started shipping its lithium iron phosphate (LFP) and lithium manganese iron phosphate (LMFP) cathode materials to automakers and battery makers for tests that could lead to major orders for EVs within six months.
CEO Behnam Hormozi told Reuters that the materials have been shipped to three potential customers already, with 10 more lined up in Europe and the United States, although he declined to disclose names.
Reaching the testing stage with automakers is a major milestone for battery materials companies.
LFP batteries were developed for the Chinese market to provide a cheaper alternative to nickel cobalt manganese (NCM) for electric vehicles and global supply is dominated by Chinese battery makers.
Integrals Power has developed LFP cathode materials that can match Chinese producers’ costs per kilowatt hour for EVs because of its improved performance, Hormozi said. The company has also developed its own LMFP cathode materials using manganese that he said can boost energy density or EV range by 20% “at no extra cost.”
“When it comes to EVs it has become quite clear, it’s all about cost, cost, cost,” Hormozi said. “We’ve been bombarded by numerous major automakers… trying to get their hands on these materials to test them.”
Integrals Power has a small UK pilot production line and aims to have its first industrial scale line operational by 2027. The company has so far raised 5 million pounds ($6.41 million) from investors and UK government grants.
Hormozi said some of its potential customers have expressed an interest in producing the cathode materials themselves under licence.
($1 = 0.7797 pounds)
(Reporting By Nick Carey)
