Raising funds to invest in lithium iron phosphate energy storage batteries

Can a lithium-iron-phosphate battery store more energy?

Mitra Chem is developing materials to make lithium-iron-phosphate (LFP) batteries store more energy. Automakers have begun to turn to LFP in an attempt to trim costs from electric vehicle battery packs, which can make up a significant portion of a car’s cost.

Will L&F invest $10 million in a new battery plant?

South Korean battery materials company L&F Corporation is a likely participant in the new round, having invested $10 million in March, Korean Economic Daily has reported. The company was awarded a $100 million grant from the Department of Energy last year to build a battery materials plant in Michigan.

Should you invest in LFP batteries?

Regardless, investors can fund LFP battery companies to their liking. Elon Musk touts LFP as a viable alternative to lithium-ion. Tesla founder and CEO Elon Musk has praised LFP batteries (which are also called lithium iron phosphate batteries). Musk is a fan of the low-cost aspect of the batteries, but that isn't all.

Are LFP batteries a viable alternative to lithium-ion?

Elon Musk touts LFP as a viable alternative to lithium-ion. Tesla founder and CEO Elon Musk has praised LFP batteries (which are also called lithium iron phosphate batteries). Musk is a fan of the low-cost aspect of the batteries, but that isn't all. They're constructed with iron instead of cobalt and nickel.

Why is sourcing lithium ion batteries important?

Responsible and sustainable domestic sourcing and processing of the critical materials used to make lithium-ion batteries will strengthen American supply chains, accelerate battery production to meet increased demand, and secure the nation’s economic competitiveness, energy independence, and national security.

Why is the new funding round a challenge for battery startups?

The new funding round comes at a challenging time for battery startups. Sales of electric vehicles (EVs) haven’t grown at the rate some automakers and analysts had predicted. Simultaneously, the Trump administration and congressional Republicans have mounted an assault on EVs and battery manufacturers.