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Avenira Executes Binding Agreements with Technology Partner Aleees

26 Sep 2023 1:53 PM | Stephanie Berlin (Administrator)

Avenira Limited (ASX: AEV) is pleased to announce that it has entered into formal agreements with its technology partner Advanced Lithium Electrochemistry Ltd (‘Aleees’) (TWSE: 5227) granting Avenira with the right to use Aleees’ intellectual property for the manufacture and global distribution of Lithium Ferro Phosphate (LFP) cathode active material.

The two agreements, a License and Technology Transfer Agreement and a Subscription Agreement, were signed in Darwin in front of Northern Territory Chief Minister, Natasha Fyles and set out the terms for Avenira’s use of the technology for its LFP Battery Cathode Manufacturing Plant in Darwin. The formal agreements follow the signing of a non-binding MOU with Aleees in September 2022 to work towards the development of a Lithium Iron Phosphate (LFP) battery cathode manufacturing plant in Darwin using Avenira’s flagship Wonarah Phosphate Project1 .

Taiwan-based Aleees is a globally recognised LFP battery material manufacturer and one of the few companies outside China with complete LFP cathode material manufacturing capability and patents for electric vehicle and energy storage systems. Aleees has deep industry connections with offtakers in Asia and will provide management support during the development and operations of the LFP Plant.

Avenira and Aleees are working closely with the Northern Territory Government to establish Avenira’s proposed LFP Plant in Darwin’s Middle Arm Sustainable Development Precinct. The Avenira-Aleees relationship has the support of a three-way MOU with the NT Government2 , under which the Northern Territory Government has committed to work proactively with Avenira and Aleees to assist and advise where appropriate in relation to necessary infrastructure including water, energy, power, telecommunications, road, port and rail access and service requirements.

To view full ASX announcement, click here.

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