Lithium Australia NL (ASX:LIT) (OTCMKTS:LMMFF) (FRA:3MW) has strengthened the management team of its wholly-owned VSPC Ltd, with the appointment of mining and energy specialist Merrill Gray to the board.
Gray brings to the board 30 years of experience in the mining and energy sectors, including production, project development and corporate management.
Having spent the past 15 years involved in innovative energy technologies, leading hydrogen, renewables and circular-economy (bioenergy) companies, she will now guide VSPC’s definitive feasibility study and global expansion plans.
VSPC develops advanced materials for lithium-ion batteries (LIBs), including lithium ferro phosphate (LFP) and lithium manganese ferro phosphate (LMFP) cathode powders.
Heralding the next stage of commercial development
Lithium Australia managing director Adrian Griffin said: "The company welcomes Merrill Gray to the team.
“Her appointment, along with that of Phil Thick (a non-executive director of Lithium Australia) and Stuart Tarrant (CFO of Lithium Australia), heralds the next stage of the company's commercial development.
“We aim to hone our edge as an ethical and sustainable developer of high-performance materials for rapidly developing battery markets globally."
Move to cobalt- and nickel-free batteries
Lithium Australia is well served by the VSPC's management team, who between them, have developed some of the most advanced cathode active materials available and expanded VSPC’s intellectual property and patent portfolio.
Mike Vaisey (previously VSPC's manager of battery materials) is handing over the reins to Gray but will continue in a consulting capacity, helping to maximise VSPC's intellectual property value.
The need to reduce reliance on critical battery materials in the interests of safety, cost and longevity means LFP has become the fastest-growing sector of the battery market.
In March 2021, the production of LFP batteries in China eclipsed that of all nickel/cobalt variants, including NCM (nickel-cobalt-manganese) and NCA (nickel-cobalt-aluminium).
VSPC is well placed to offer an alternative supply chain for LFP, a market currently dominated by Chinese producers (only 2% of LFP is produced outside China).
LIT, through VSPC, plans to sell LFP and LMFP into under-serviced but rapidly growing markets outside of China.
VSPC has both LFP and LMFP cathode powders available for commercial testing and enquiries from cathode producers are welcomed.