Indian battery materials firm Altmin and YLB, Bolivia's public company for lithium deposits, have officially signed a strategic agreement to advance their partnership for the sourcing of lithium and Altmin's patented C-LFP technology.
The agreement outlines the collaboration on the development of raw materials supply chain and production of cathode active materials (CAM) for lithium-ion batteries, aligning with the bilateral industrialization efforts of this vital resource.
The collaboration is said to be first-of-its-kind, in which the South American nation enters towards the advancement of indigenous Li-Ion battery manufacturing which is poised to impact the entire supply chain positively. Moreover, the partnership will address the lithium requirements for Altmin's India operations as well.
Commenting his optimism on the partnership, Mourya Sunkavalli, Founder and MD of Altmin, said, "Joining hands with YLB is extremely reassuring as it secures our position in the global battery market".
India's first cathode active materials plant inaugurated by Altmin-ARCI -
"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", he added.
Karla Calderón, President of YLB, commented on the development, "This cooperation provides for the technological development of active materials for use in lithium-ion batteries, by implementation of a pilot plant in Potosi". The pilot plant, which is set to be operational this year, boasts a 3 GW capacity, he added.
The partnership between Altmin and YLB entails the sharing of scientific technology knowledge for manufacturing battery active materials, through the establishment of the said pilot plant in La Palca, Potosí using Altmin's patented 'C-LFP' technology and sharing of lithium carbonate supplies produced by YLB.
Further, the partnership also 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 finalize the deal.
Quite recently, Altmin inaugurated a MW-scale LFP manufacturing plant in collaboration with ARCI, emphasizing its commitment to CAM production and India's self-reliance in the battery materials sector.
It is to be noted that Altmin is a 'Leadership Member' of India Energy Storage Alliance (IESA) and a key stakeholder in the alliance's India Battery Manufacturing & Supply Chain Council (IBMSCC) initiative, which is at the forefront of developing a favorable and holistic ecosystem for battery materials in India.