Livent Corp of Philadelphia, PA and Lilium NV of The Netherlands have announced a research and development collaboration agreement. The companies have agreed to collaborate on the advancement of lithium metal technology for use in high-performance battery cells.
Yves Yemsi, Lilium’s COO, said, “This collaboration is a milestone in Lilium’s commitment to revolutionize regional air travel. Innovation is at the heart of our mission, and to keep innovating we need to collaborate with the best in the industry. Livent’s unique expertise in lithium production, as well as their commitment to sustainably responsible practices, makes them an ideal partner.”
Livent recently reported first quarter 2022 revenue of US$143.5 million, up from US$91.7 million in the same period of 2021. The company made a net income of US$53.2 million versus a net loss of US$0.8 million in the prior year period.
Paul Graves, Livent’s CEO, said, “Strong lithium demand growth has continued in 2022. Published lithium prices in all forms have increased rapidly amid very tight market conditions and Livent continues to achieve higher realized prices across its entire product portfolio.”
Livent says that it remains on schedule to deliver all previously announced capacity expansions. The company has announced significant additional capacity expansions for both lithium carbonate and lithium hydroxide, as it continues to grow its production to meet future demand from customers.
In its first expansion in Argentina, Livent is on track to add 10,000 tonnes of lithium carbonate capacity by the first quarter of 2023. Another 10,000 tonnes of lithium carbonate capacity is expected to be added in Argentina by the end of 2023, which will nearly double Livent’s total available LCEs from 2021 levels.
Livent also expects to add another 15,000 tonnes of lithium hydroxide capacity at a new location in China by the end of 2023. Additionally, Livent is evaluating building a new facility in either North America or Europe that would process lithium material from battery recycling processes into lithium hydroxide. The Company is exploring multiple opportunities for partnership and funding and believes the new facility could be in operation by the end of 2025, with production capacity of at least 10,000 tonnes.
Livent is also nearing completion of its 5,000 tonnes expansion of lithium hydroxide capacity in Bessemer City that will start commercial production in the second half of this year. Following these expansions, Livent expects to have total lithium hydroxide capacity of at least 55,000 tonnes by the end of 2025, more than double its existing hydroxide capacity of 25,000 tonnes.
Volume 36, Issue 10