Mitra Chem Completes Successful Multi-ton LFP CAM Production; Begins Shipping Commercial Samples to Major Customers

MOUNTAIN VIEW, Calif., Feb. 12, 2024 /PRNewswire/ -- Mitra Future Technologies, Inc. ("Mitra Chem"), a leading innovator in IRA-compliant production of lithium-ion battery materials, announced they have successfully synthesized multi-ton Lithium Iron Phosphate (LFP) samples that meet industry-leading electric vehicle (EV) specifications.

LFP, known for its safety, long cycle life, and environmental friendliness, is poised to disrupt the battery landscape by increasingly becoming the cathode chemistry of choice in the fastest-growing electric vehicle (EV) and energy storage segments (ESS). With these larger batches of production samples, Mitra Chem looks to launch into the North American market with IRA-compliant products.

This announcement comes at a critical juncture for the domestic battery market. LFP-based chemistries were over two-thirds of the Chinese battery production in 2023, and are quickly growing in adoption in Western markets. With the US Department of Energy proposing rules regarding Foreign Entities of Concern (FEOCs), incentives for sourcing battery components from China are restricted, underscoring the importance of FEOC-free technology that still achieves market leading spec performance.

"We are prioritizing rapid scale-up of LFP based on strong customer feedback," said Mitra Chem CEO Vivas Kumar. "Our multi-ton-scale LFP production and subsequent customer sampling is a stepping stone to our own manufacturing build, and positions us as a frontrunner in the North American cathode active material market."

Mitra Chem's unique approach, leveraging in-house talent and process knowledge, has enabled the rapid transition from lab-scale to industrial-scale production, marking a crucial stepping stone in their production mission. With the company's rented manufacturing line and strategic market positioning, Mitra Chem is primed to meet the growing demand for high-quality, domestically sourced battery materials.

Their multi-ton-scale sample enables large-scale cell builds for customers, and the collection of long-term cycling qualification data. With growing momentum in LFP production and progress toward their acceleration thesis for further up-scaling, Mitra Chem is positioned as a North American market leader, driving forward the electrification revolution and shaping the future of sustainable energy.

About Mitra Chem

Mitra Chem is building the first US Inflation Reduction Act-compliant lithium-ion battery materials product company that shortens the lab-to-production timeline by over 90%. Lithium-ion batteries are the key platform technology enabling electrification in transportation, consumer electronics, along with residential, commercial, and grid-scale energy storage. Mitra Chem's first product category is iron-based cathodes for Western battery applications. Mitra Chem takes cathode products from lab to industrial scale faster than the competition by leveraging an in-house artificial intelligence technology advantage to dramatically shorten the R&D timeline. The company's goal is to transform the cathode from a specialty chemical to a platform technology that differentiates cell performance by end application. In the short term, the company remains focused on scaling IRA-compliant LFP and LMFP cathodes for the growing US market.

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SOURCE Mitra Chem