MITRA CHEM ANNOUNCES COMMERCIAL LMFP CATHODE ACTIVE MATERIAL SAMPLE SHIPMENTS HAVE BEGUN TO GLOBAL CUSTOMERS

Mitra Chem now offering Inflation Reduction Act-compliant U.S.-made Lithium Manganese Iron Phosphate (LMFP) cathodes at relevant commercial qualification scale that beat the performance of materials made-in-China

MOUNTAIN VIEW, Calif., Dec. 7, 2023 /PRNewswire/ -- Mitra Chem, a leading US producer of iron-based battery cathode active materials, today announced that it has now shipped multiple commercial-grade Lithium Manganese Iron Phosphate (LMFP) cathode active materials samples to major global EV manufacturers and battery cell makers. The company continues to build momentum off its General Motors-led Series B funding round first close earlier this year. Mitra Chem is producing its portfolio of iron-rich cathode materials from its Mountain View-based R&D facility, where the company has been able to synthesize an LMFP cathode with performance exceeding industry standard materials produced primarily in China. Accomplishing these samples within an accelerated timeline was made possible by deploying their proprietary artificial intelligence platform.

The passage of the Inflation Reduction Act has supercharged demand for U.S.-made battery materials by offering consumer tax credits tied to domestically manufactured material usage. Mitra Chem is one of the only U.S.-based iron-based cathode manufacturers that enable purchasers of U.S.-made electric vehicles to qualify for the full suite of IRA tax credits. The company today said it has a strong pipeline of sample requests from manufacturers in the U.S. and around the world.

"We are proud to be working with top global Auto OEMs and cell makers as demand for our IRA-compliant LMFP product surges. We continue to focus on the key automotive segments, which are growing rapidly with consumer demand driving the expansion of a domestic, IRA-compliant supply chain. We look forward to completing additional qualification steps in the weeks ahead with customers as we contemplate our long-term commercial scale-up strategy."– CEO Vivas Kumar

Mitra Chem has been at the forefront of battery technology research, focusing on developing sustainable and high-performance energy storage solutions.

• Mitra Chem's proprietary technology and development process shortens the lab-to-market timeline by >90%.
• Mitra Chem is one of the only companies taking a multi-faceted approach by combining R&D, machine learning acceleration, and manufacturing to supply battery materials to OEM and battery cell customers.
• Mitra Chem's battery R&D facility can synthesize and test thousands of cathode designs monthly, ranging in size from grams to kilograms – these processes drive significantly shortened learning cycles, enabling shorter time to market for new battery cell formulas.
• An "atoms-to-tons acceleration platform" powers Mitra Chem's lab, using simulations and physics-informed artificial intelligence models to accelerate formulation discovery, cathode synthesis optimization, cell-lifetime evaluation and process scale-up. The in-house cloud platform, purpose-built for battery cathode development, automates data ingestion across diverse synthesis, material characterization, cell prototyping and standardized analyses and visualizations.

For more information visit https://www.mitrachem.com

SOURCE Mitra Chem