In this InvestorIntel interview, Tracy Weslosky talks with First Phosphate Corp.’s (CSE: PHOS | FSE: KD0) CEO and Director John Passalacqua about the growing mass market adoption of LFP (Lithium Iron Phosphate) batteries globally in the Electric Vehicle (EV) industry.
With EV manufacturers such as Tesla in their Model 3 and Model Y now using LFP batteries in their vehicles to reduce cost, John goes on to provide an update on First Phosphate’s deposit in the Saguenay-Lac-St-Jean Region of Quebec, Canada.
With a purity 33% higher than the current world’s standard, John discusses how 90% of First Phosphate’s resource can be converted into purified, battery-grade, phosphoric acid allowing them to focus primarily on the LFP battery industry. Phosphoric acid is a critical component in LFP batteries.
John also provides an update on First Phosphate’s LFP production technology licensing agreement with Integrals Power Limited. Highlighting the benefits of Integrals Power’s technology, including its suitability for colder temperatures and different production types, John discusses how purified phosphoric acid and iron sulfate from First Phosphate’s deposits will be used for LFP battery production, targeting the emerging North American EV industry.
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About First Phosphate Corp.
First Phosphate is a mineral development company fully dedicated to extracting and purifying phosphate for the production of cathode active material for the Lithium Iron Phosphate (“LFP”) battery industry. First Phosphate is committed to producing at a high purity level, at full ESG standard, and with a low anticipated carbon footprint. First Phosphate plans to vertically integrate from the mine source directly into the supply chains of major North American LFP battery producers that require battery-grade LFP cathode active material emanating from a consistent and secure supply source. First Phosphate holds over 1,500 sq. km of royalty-free district-scale land claims in the Saguenay-Lac-St-Jean Region of Quebec, Canada that it is actively developing. First Phosphate properties consist of rare anorthosite igneous phosphate rock that generally yields high-purity phosphate material devoid of high concentrations of harmful elements.
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