L&F Co. said Tuesday it has signed a long-term supply agreement for lithium iron phosphate (LFP) cathode materials with U.S. battery technology company Coreshell Technologies.
Coreshell is a California-based battery technology company developing next-generation battery platforms using U.S.-sourced metallurgical silicon.
The company has been supplying samples to global automakers and expanding its business into electric vehicles, energy storage systems (ESS), and defense applications.
L&F secured the agreement based on its ability to supply LFP cathode materials through a supply chain that complies with U.S. supply chain and country-of-origin regulations.
The agreement is seen as reaffirming L&F’s competitiveness in establishing a non-Chinese supply chain capable of meeting standards required by the U.S. defense industry, including requirements under the National Defense Authorization Act (NDAA).
Through the agreement, Coreshell will establish a battery supply chain that excludes Chinese materials from both cathodes and anodes while meeting U.S. regulatory standards.
The company has secured a large-scale production base capable of responding to supply chain requirements across key markets, including defense, electric vehicles, and energy storage systems.
“This agreement is an important milestone in realizing our battery strategy based on a non-Chinese supply chain,” Coreshell CEO Jonathan Tan said. “We have established the foundation to reliably supply batteries that meet the highest level of regulatory compliance standards required by customers.”
L&F Chief Financial Officer Ryu Seung-heon said, “Securing this North American customer demonstrates that our LFP business has established a stable and sustainable growth foundation. We will continue contributing to the creation of reliable and competitive non-Chinese supply chains that meet the needs of global customers.”
Earlier this year, L&F also signed a supply agreement with Samsung SDI.
Under the agreement, L&F will supply approximately $1.1 billion worth of LFP cathode materials through the end of 2029.
Samsung SDI plans to use the materials to manufacture batteries at StarPlus Energy (SPE), its joint venture with Stellantis in Indiana.