January 30, 2025: A Sino-Israeli joint venture is to invest an initial €285 million ($297 million) to build an LFP cathode active material plant in Spain targeting Europe’s expanding battery manufacturing market.
Chinese battery materials producer Shenzhen Dynanonic and Tel Aviv-headquartered global speciality minerals company ICL said on January 16 they had signed the investment partnership.
ICL will hold an 80% majority stake in the facility to Dynanonic’s 20%. The joint venture agreement is subject to various conditions and approvals.
Preparation, engineering and permits are being sought for the 100,000m2 site in Sallent, northeast Spain, where ICL previously operated a potash production plant.
The location has an option for further expansion and is about 60 miles from the port of Barcelona, which is accessible by rail, and in good proximity to planned battery plants in Europe, the partners said.
Phil Brown, president of ICL’s Phosphate Solutions Division said: “The time is right to make this move, as LFP is a critical solution for the future of Europe’s energy transition.”
ICL’s existing activities include production of electrolytes for BESS systems, including tailor-made electrolyte blends for bromine-based flow batteries.
