YLB, and Altmin Private Limited, have officially inked a strategic agreement to advance their relationship for lithium, C-LFP technology.
The agreement outlines the collaboration on the development of raw materials supply chain and production of cathode active materials (CAMs) for lithium-ion batteries.
The relationship is the first of its kind for the South American country in the promotion of indigenous Li-Ion battery manufacturing, and it is expected to have a favourable impact on the entire supply chain. Furthermore, it will support the worldwide energy shift while meeting the lithium needs of Altmin’s India activities.
The partnership entails the sharing of scientific technology knowledge for manufacturing battery active materials, through the establishment of a Pilot Plant in La Palca, Potosí using Altmin’s patented “C-LFP” technology and sharing of lithium carbonate supplies produced by YLB. It aims to enhance research, development, and piloting activities for Lithium and establish a bilateral Raw Materials Supply Chain.
Last month, a team of experts from YLB visited Altmin’s Hyderabad facility for advanced technical and commercial discussions, following which the Bolivian Government owned entity invited Altmin to Bolivia to seal the deal.
Karla Calderón, President of YLB said, “This convention provides for cooperation for the technological development of active materials for use in Lithium-ion batteries, by implementation of a pilot plant in Potosi, the Pilot plant is set to roll this year with a 3 Gigawatt plant envisaged for the near future.”
Mourya Sunkavalli, Founder and MD of Altmin, expressed confidence in the partnership, said, “Joining hands with YLB is extremely reassuring as it secures our position in the global battery market. This alliance will enable Altmin to produce upwards of 10 GWh of LFP by 2030. The partnership between YLB and Altmin is a significant milestone between the two countries in the critical minerals sector, fostering collaboration and innovation.”
Altmin recently inaugurated a Megawatt-scale LFP manufacturing plant with ARCI, emphasizing its commitment to Cathode Active Material (CAM) production and India’s self-reliance in the sector while reducing external dependence.