ICL, a global specialty minerals company, has signed a joint venture (JV) agreement with Shenzhen Dynanonic Co., Ltd. to establish lithium iron phosphate (LFP) cathode active material (CAM) production in Europe, with an .

A new facility at ICL's Sallent, Spain, site is currently in planning stages and will substantially expand the company’s battery materials business. The project demonstrates ICL’s commitment to developing high-quality solutions for a sustainable supply chain and represents a significant step forward for the company’s battery materials portfolio, this time into Europe.

Preparation, engineering and permits for the JV site in Sallent, Spain, where ICL previously operated a potash production site, are expected to be followed by construction and subsequent operations. The location has an option for further expansion and is approximately 60 miles from the Port of Barcelona, which is accessible by rail, and is also in good proximity to planned LFP battery plants in Europe.

The JV agreement is subject to material conditions precedent, final investment estimates and regulatory approvals. ICL’s share in the facility in Spain will be 80%, with the potential for modifications, pending further investment opportunities.

Shenzhen Dynanonic has capabilities in lithium-ion battery core materials R&D and manufacturing, focuses on the R&D and production of nano-lithium iron phosphate and sales, and is committed to supplying core key raw materials for electric vehicles and energy storage systems.

Dynanonic develops cathode materials for batteries using nanotechnology and has completely independent intellectual property rights for its products and core technologies. In 2023, Dynanonic produced 213,400 mt of L(M)FP and achieved annual nameplate capacity of 455,000 mt at year-end.