Aleees signed a Memorandum of Understanding with India's largest chemical fertilizer manufacturer Indian Farmers Fertiliser Cooperative Limited (IFFCO)

TAOYUAN, Dec. 7, 2023 /PRNewswire/ -- Advanced Lithium Electrochemistry (Aleees-Taiwan), a subsidiary of Lithium intellectual property service provider Aleees-Ky (TWSE: 5227), signed a Memorandum of Understanding with The Indian Farmers Fertilizer Cooperative Limited (IFFCO), the world's and India's largest manufacturer of phosphoric acid and chemical fertilizers.

Both parties agreed to explore the transfer of technology authorized by Aleees to IFFCO to produce and build lithium iron phosphate (LFP) battery cathode material plants in India and Jordan to meet the huge Ex-China lithium battery supply chain needs of many multinational electric vehicle manufacturers and energy storage customers, and work together to strengthen the lithium battery industry in Europe, the United States, and the India-Pacific to eliminate the risk of multinational customers relying on China.

IFFCO is the largest chemical fertilizer manufacturer in India and the world. There are 5 factories in India and 2 factories overseas. In the 2022-2023 financial year, the group's turnover was 62.99 billion rupees (GBP$620 million / USD$758 million ) and profit after tax was 30.53 billion rupees (GBP$300 million / USD$368 million ).

In terms of operation, the total chemical production of IFFCO increased from 8.7 million tons the year before to 9.56 million tons, of which the production of urea increased from 4.36 million tons to 4.88 million tons, the production of diammonium phosphate (DAP)/ nitrogen-phosphorus-potassium fertilizer (NPK)/ water-soluble fertilizer (WSF) increased from 4.34 million tons to 4.68 million tons.

In addition to its core fertilizer business, IFFCO also diversify their operations into general insurance, rural retail, farm forestry, rural telecommunications, agrochemicals, rural finance, logistics, food processing, organics and urban gardening nutrients.

Aleees and IFFCO are also exploring opportunities to build factories in Jordan with end customers. Since Jordan and the United States have signed an FTA, the LFP produced by the Jordanian factory will be supplied to the U.S. market, and end customers can obtain high subsidies and tax credit from the U.S. IRA Act.

Jordan is also a reliable supplier of fertilizers, phosphates, phosphoric acid and other products to the United States, and IFFCO is the largest single buyer of Jordanian phosphates. IFFCO and JPMorgan Chase have also established a joint venture project worth US$860 million in Jordan for the production of phosphoric acid.

Lithium intellectual property licensing and technology transfer is the main business of Aleees. Aleees is responsible for completing the development and certification of customized products with end customers, and continues to work with international electric vehicle manufacturers to promote lithium iron phosphate LFP cathode material technology licensing in Europe, the United States, India and Australia. The licensee is responsible for meeting the production capacity required by end customers in Ex-China market, and jointly meeting the local production needs of multinational customers for standard production lines in multiple regions.

Currently, participating manufacturers are gradually expanding. Three battery material companies in Europe, the United States and Australia that have completed licensing authorization have also commenced factory construction activities to enter mass production as soon as possible.

About Aleees:

Aleees (TWSE: 5227), founded in 2005 with main office and factory located in Taiwan, is a lithium iron phosphate (LFP) battery material manufacturer with longest history as well as an IP licensor in the world. Aleees is also one of the few companies outside Mainland China with complete LFP battery material manufacturing technology. Our processes include in-house iron phosphate synthesis which could be independent from Chinese supply chain. The production line is in modular design, which could also feed iron phosphate from 3rd party. We own 130 exclusive patents worldwide, with customers including world-renowned energy storage battery and EV battery customers across Europe, US, and Asia. Aleees co-develops various types of LFP, LMFP products with more than hundred of global customers, and produce high quality, cost-effective, and long-life cycle LFP cathode materials. In the past 18 years, Aleees LFP CAM with yield rate of 97% has been shipped from Taiwan facility to Asia, America, Europe and others, and verified by Kyocera, GS Yuasa, 24M, Freyr Battery, FIB, Lishen, etc. Our non toxic production process is environment friendly, we have obtained major international certifications including ISO9001, ISO14001, ISO14064, IATF 16949 and corporate social responsibility AA1000 and so on. All Aleees products are bespoken product but will be produced in US, Europe, Australia and India. That would make global supply chain management easier. Licensees could build local supply chain and apply for local subsidies. We are cooperating with global customers and partners to establish a localized, integrated supply chain of LFP lithium-ion battery materials, strengthen the competitiveness of the local LFP battery supply chain in the world, build the value and eco-friendly future together.

SOURCE Aleees