M2i Global (OTC:MTWO) has provided an update on its collaboration with Next-Gen Energy Technology to establish a pilot manufacturing plant for lithium battery materials in Australia.
The two companies aim to build the first lithium nickel cobalt aluminate (NCA) cathode materials manufacturing facility outside of China.
The planned plant will leverage patented technology, including a 2015 patent for spherical nickel-cobalt aluminate lithium cathode material and a 2023 Australian patent for the production of lithium NCA.
The pilot plant, scheduled for commissioning by the end of 2025, will initially produce 2,000 tons per year of lithium NCA cathode material, M2i Global (OTC:MTWO) said in a statement on Thursday.
Production is planned to scale up to 10,000 tons annually by 2026, generating approximately $140 million in revenue per year.
The collaboration agreement extends over a 10-year period, potentially yielding $1.4 billion in total revenue.
Beyond Australia, Next-Gen Energy Technology intends to replicate this model in the US, Malaysia, Thailand, and Indonesia, with a goal of scaling production to 200,000 tons over the next decade.
Notably, in November, M2i Global signed an offtake agreement in the US under this partnership.
M2i Global, through its subsidiary US Minerals and Metals, helps secure critical minerals for national defense and plans to create a Strategic Mineral Reserve with the US government.