Mon, 11 Dec 2023



VMPL

New Delhi [India], November 16: YLB, The National Strategic Public Company for Bolivian Lithium Deposits, and Altmin Private Limited, a Hyderabad based Battery active materials manufacturing company, have officially signed a strategic agreement to advance partnership for Lithium, C-LFP technology. The agreement outlines the collaboration on the development of raw materials supply chain and production of cathode active materials (CAMs) for lithium-ion batteries, aligning with the bilateral industrialisation efforts of this vital resource.

The collaboration is the first of its kind that the South American nation enters in the advancement of indigenous Li-Ion battery manufacturing which is poised to impact the entire supply chain positively. Furthermore, the collaboration will cater to the global energy transition while addressing lithium requirements for Altmin's India operations.

The signing ceremony held at the historic National Mint in Potosi was preceded by Raul Mayta, Vice Minister for Exploration and Exploitation of Energy Resources, Marco Copa Gutierrez, Governor of Potosi accompanied by National and Local authorities, YLB officials and Kiriti Varma, Co-Founder, Altmin among others, the event featured agreement signing by YLB President Karla Calderon and Altmin's Founder Mourya Sunkavalli.

The partnership entails the sharing of scientific technology knowledge for manufacturing battery active materials, through the establishment of a Pilot Plant in La Palca, Potosi using Altmin's patented "C-LFP" technology and sharing of lithium carbonate supplies produced by YLB. This partnership aims to enhance research, development, and piloting activities for Lithium and establish a bilateral Raw Materials Supply Chain.

Last month, a team of experts from YLB visited Altmin's Hyderabad facility for advanced technical and commercial discussions, following which the Bolivian Government owned entity invited Altmin to Bolivia to seal the deal.

Karla Calderon, President of YLB said- This convention provides for cooperation for the technological development of active materials for use in Lithium-ion batteries, by implementation of a pilot plant in Potosi, the Pilot plant is set to roll this year with a 3 Gigawatt plant envisaged for the near future.

Mourya Sunkavalli, Founder & MD of Altmin, expressed confidence in the partnership, stating, "Joining hands with YLB is extremely reassuring as it secures our position in the global battery market. This alliance will enable Altmin to produce upwards of 10 GWh of LFP by 2030, The partnership between YLB and Altmin is a significant milestone between the two countries in the critical minerals sector, fostering collaboration and innovation.

Altmin recently inaugurated a Megawatt-scale LFP manufacturing plant with ARCI, emphasizing its commitment to Cathode Active Material (CAM) production and India's self-reliance in the sector while reducing external dependence.

(ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)

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