L&F Selected as Lead Company for National Project on 'LFP Battery Technology Development'

As Part of KIAT International Joint Technology Development Project
High Technology Research Institute and Korea Photonics Technology Institute Participate

LNFL, a producer of cathode active materials for secondary batteries, announced on the 31st that it has been selected as the lead company for the government project 'LFP (Lithium Iron Phosphate) Battery Technology Development' promoted by the Ministry of Trade, Industry and Energy.

This project is part of the International Joint Technology Development program under the Korea Institute for Advancement of Technology (KIAT), affiliated with the Ministry of Trade, Industry and Energy, and is the first LFP cathode active material project under the International Joint Technology Development program. It is being carried out with a North American customer confirmed as the demand company.

LNFL will solely lead the development of cathode active materials for LFP batteries, with the High Technology Research Institute and the Korea Photonics Technology Institute participating as joint research and development institutions for the next three years.

LFP batteries are used in low-cost electric vehicles and energy storage systems (ESS) due to their affordable price. LNFL is preparing to target the low-cost battery market through LFP while maintaining its technological superiority in high-nickel technology. By participating in this project, the company plans to actively respond to global market demands and secure technological gaps and competitive advantages both domestically and internationally.

In May, representatives from L&F and Chinese precursor company CNGR (Zhongwei) signed a mid- to long-term memorandum of understanding (MOU) to respond to the US Inflation Reduction Act (IRA) and took a commemorative photo. From left: Kim Dong-hwan, General Manager of CNGR; Tony Tao, CEO; Choi Su-an, CEO of L&F; Jang Sung-gyun, CPO of L&F.
[Photo by L&F]

LNFL stated that its LFP, developed with proprietary technology, has received positive evaluations from numerous domestic and international automakers and battery companies. It also emphasized that participation in international joint technology development will contribute to expanding the global supply chain of the domestic battery industry. LNFL plans to firmly maintain its position in the high-nickel market while also targeting the low-cost LFP battery market.

LNFL is establishing the first full-process supply chain and production system for LFP in a Free Trade Agreement (FTA) country. It is also operating the first pilot line for LFP and LFMP (Lithium Iron Manganese Phosphate) in a domestic company, aiming for mass production in 2026. Recently, it signed an MOU with a U.S. LFP battery specialist company for LFP supply and secured the supply chain through a mid- to long-term MOU agreement with CNGR (Zhongwei), the world's number one precursor company in China.