L&F Signs LFP Cathode Supply Deal with CoreShell Technologies, Accelerates North American Supply Chain Expansion

Signed Mid- to Long-Term Supply Agreement with CoreShell Technologies in the U.S.
Expanding Applications from ESS to Electric Vehicles and Defense Sectors

On July 29, L&F announced that it had signed a mid- to long-term supply agreement for lithium iron phosphate (LFP) cathode materials with CoreShell Technologies, a U.S. battery technology company.

Exterior view of L&F Plus. L&F Plus

This agreement was reached amid tighter regulations on the origin and supply chain of battery materials, particularly in the United States. L&F stated that it has once again established its position in the North American market by leveraging its technology in LFP cathode materials and its competitive, non-China-based supply chain. The company also emphasized that this demonstrates its ability to respond to global regulatory requirements.

L&F has set up a supply system for LFP cathode materials that meets the U.S. supply chain and origin requirements, including the One Big Beautiful Bill Act. In addition, the company announced that it has satisfied non-China supply chain standards required by the U.S. National Defense Authorization Act (NDAA) and other defense and strategic industries, thereby strengthening its competitiveness in regulatory compliance.

CoreShell, headquartered in California, develops next-generation battery platforms utilizing U.S.-produced metallurgical silicon. The company has conducted technology validation and supplied samples to global automakers, and it is expanding its business into the electric vehicle (EV), energy storage system (ESS), and defense sectors.

Through this agreement, CoreShell has established a supply chain for both anode and cathode materials that excludes minerals and parts from China. Based on this, the company has laid a foundation for battery production that meets U.S. regulatory requirements for the EV, ESS, and defense industries.

Jonathan Tan, CEO of CoreShell, stated, "This agreement marks a significant milestone in realizing a battery strategy based on a non-China supply chain," adding, "We are now able to reliably supply batteries that meet the high regulatory standards required by our customers."

Leveraging this agreement, L&F plans to expand the application of LFP cathode materials from the current focus on ESS to include mobility and defense sectors as well. Following the recent contract with Samsung SDI, the company noted that this new supply deal once again demonstrates its supply stability and regulatory response capabilities in the North American market.

Seungheon Ryu, Chief Financial Officer (CFO), commented, "Securing this North American customer proves that L&F's LFP business has established a reliable and scalable foundation. Through our dual-track strategy—including both ultra-high nickel nickel-cobalt-manganese (NCM) cathode materials and LFP—we will serve both the premium EV and mass market segments, while helping to establish a stable non-China supply chain for global customers."

Meanwhile, L&F Plus, a subsidiary responsible for LFP cathode material production, was recently selected by the National Growth Fund to receive a long-term, low-interest policy loan of 220 billion won. This funding will be invested in dedicated LFP cathode material plant facilities, with initial operations of 30,000 tons per year starting at the end of the third quarter of this year, and plans to build up to a 60,000-ton annual production system by the first half of 2027.

This content was produced with the assistance of AI translation services.