PHILADELPHIA CREAM, November 1, 2021 / PRNewswire / –
– Allows higher capacity and longer life batteries –
– Improves safety and durability, reduces manufacturing costs –
– Can be applied using standard industrial equipment and scaling methods –
– Advances the development of next-generation batteries –
Livent Corporation (NYSE: LTHM) today announced its proprietary LIOVIXâ¢ lithium metal product, a unique printable formulation of lithium metal and other specialty materials that can improve lithium-ion battery performance, reduce manufacturing costs, and enable the next generation of battery technology, while improving safety and durability.
âOur customers continue to look to us for innovative and sustainable solutions that can improve battery performance, safety and manufacturing efficiency. We are eager to bring LIOVIXâ¢ to market in the future as a product to help meet these increasing demands while paving the way for the development of next-generation battery technology, âsaid Paul Graves, President and CEO of Livent.
Improved battery performance
LIOVIXâ¢ can be printed onto the anode of a battery during electrode fabrication in a process called pre-lithiation. This has led to higher capacity and longer life batteries. Indeed, the application of LIOVIXâ¢ has been shown through initial testing to improve battery performance and extend battery life with more charge cycles than conventional batteries.
Safety and durability benefits
Beyond improving battery performance, LIOVIXâ¢ should improve the safety and durability profile of lithium-ion batteries. The improved safety is largely the result of the properties of the unique printable formulation of LIOVIXâ¢. From LIOVIXâ¢ provides lithium in a highly stable and protected form, it reduces the need for stringent environmental conditions and advanced manufacturing process controls.
The immediate benefits of LIOVIX sustainabilityâ¢ should come from providing battery manufacturers with increased control and precision over the amount of lithium they use in the production of battery cells. This should help reduce material wastage and costs and enable high process efficiency (i.e. throughput). LIOVIXâ¢ has the potential to reduce the use of war minerals and rare earths in battery production by paving the way for increased use of more accessible battery materials like silicone, manganese and even sulfur.
Manufacturing efficiency and business scalability
There are several potential savings and efficiencies for manufacturers using LIOVIXâ¢ which are directly linked to performance gains in terms of battery capacity and cyclability. These range from the need to include fewer cells in a battery pack to achieve the same performance, to the reduction in the number of manufacturer warranty claims due to the longer battery life.
In addition, LIOVIXâ¢ is expected to significantly reduce the need for a step in the cell manufacturing process called “training”, which can reduce overall costs and free up space on the fabrication shop floor.
Another unique feature of LIOVIXâ¢ is its expected business scalability. It is expected that LIOVIXâ¢ can be incorporated into existing battery manufacturing processes using standard equipment and common industry methods for scaling operations. Each method is designed to meet specific product requirements, and no changes should be necessary to the electrode manufacturing process.
âOur customers need commercially scalable solutions that add value to the battery without adding cost to the battery manufacturing process, so it was imperative to us that LIOVIXâ¢ improve both the attributes of the battery itself and the way it is produced. We believe we have successfully achieved this balance and are encouraged by the data and feedback from our pilot users. We are delighted to present LIOVIXâ¢ to the wider market, âsaid Walter Czarnecki, commercial director of Livent.
Laying the foundations for next-generation batteries
LIOVIXâ¢ is also expected to be an important technology for the development and eventual commercialization of solid state batteries using lithium metal. These next generation batteries will address many of the challenges and limitations of today’s liquid electrolyte battery cells.
âOur R&D team is proud to continue our close collaboration with some of the most innovative companies in the world. Together, we are advancing advanced battery technology and taking meaningful steps to realize the potential of solid-state batteries. battery technologies, âsaid Marina Yakovleva, director of research and development and new business development for Livent. “LIOVIXâ¢ should be an important but practical addition to Livent’s product portfolio and builds on our rich heritage of pioneering innovations and industry firsts. ”
For more information on LIOVIXâ¢, visit livent.com/LIOVIX.
For nearly eight decades, Livent has partnered with customers to use lithium safely and sustainably to power the world. Livent is one of the few companies with the capacity, reputation and know-how to produce high quality finished lithium compounds that help meet the growing demand for lithium. The company has one of the broadest product portfolios in the industry, fueling demand for green energy, modern mobility, the mobile economy and specialty innovations, including light alloys and lubricants. Livent employs more than 900 people worldwide and operates manufacturing sites in United States, England, India, China and Argentina. For more information visit Livent.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements in this press release are forward-looking statements. In some cases, you may identify such statements by forward-looking words such as “could”, “could”, “will”, “continue to”, “will probably result”, “should”, “expect”, “,” “intends”, “plans”, “anticipates”, “believes”, “believes”, “estimates”, “predicts”, “potential”, “pursue”, “could”, “foresees”, “future “,” Is convinced that “,” plans “or” projects “, the negative of these terms and other comparable terms. These forward-looking statements, which are subject to risks, uncertainties and assumptions regarding Livent and LIOVIX â¢, may include projections of Livent’s future financial performance, anticipated growth strategies and business trends for Livent, as well as business development, market acceptance and customer demand for LIOVIX â¢. These statements are only predictions based on Livent’s current expectations and projections regarding future events. There are significant factors which could cause the actual results, level of activity, performance or achievements of Livent and LIOVIX â¢ to differ materially from the results, level of activity, performance or achievements expressed or implied by forward-looking statements. Currently, one of the most important factors is the negative effect of the current coronavirus pandemic (“COVID-19”) on our business. The ultimate extent to which COVID-19 impacts us will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the scope, severity and duration of the pandemic, actions taken to contain the pandemic or mitigate its impact, and the direct and indirect economic effects of the pandemic and containment measures, among others. Additional factors that could cause the actual results, level of activity, performance or achievements of Livent and LIOVIX â¢ to differ materially from the results, level of activity, performance or achievements expressed or under- heard by forward-looking statements, including a decline in growth in demand for electric vehicles; supply chain disruptions in the electric vehicle manufacturing industry, such as the availability and price of semiconductors; price volatility of performance lithium compounds; unfavorable global economic conditions; competetion; quarterly and annual fluctuations in our operating results; risks associated with the expansion of Livent’s planned production and related capital expenditures, including any further suspension of our expansion efforts; the potential development and adoption of battery technologies that do not rely on high-performance lithium compounds as an input; liquidity and access to credit; reduced customer demand, or delays in growing customer demand, for better performing lithium compounds; the success of Livent’s research and development efforts (including efforts to safely and effectively market LIOVIX â¢); risks inherent in international operations and sales, including political, financial and operational risks specific to Argentina, China and other countries where Livent is active; the current lack of commercial customers for LIOVIX â¢; customer concentration and delay or loss or significant reduction in orders from large customers; failure to meet customer quality standards; fluctuations in the price of energy and certain raw materials; employee attraction and retention; union relations; cybersecurity breaches; our ability to protect our intellectual property rights; lack of proven reserves; legal and regulatory proceedings; including shareholder lawsuits; compliance with environmental, health and safety laws; changes in tax laws; risks associated with our separation from FMC Corporation; risks associated with the ownership of our common shares, including price fluctuations and lack of dividends; events beyond our control that could prevent us from achieving our sustainable development goals; as well as the other factors described under the heading âRisk Factorsâ in Livent’s Form 10-K 2020 filed with the Securities and Exchange Commission on February 26, 2021 and our subsequent Forms 10-Q filed with the Securities and Exchange Commission. Although Livent believes that the expectations reflected in the forward-looking statements are reasonable, Livent cannot guarantee future results, level of activity, performance or achievements. In addition, neither Livent nor any other person assumes responsibility for the accuracy and completeness of these forward-looking statements. Livent has no obligation to update any of these forward-looking statements after the date of this press release to conform its prior statements to actual results or revised expectations.
Media contact: Juan Carlos Cruz +1.215.299.6170
Investor contact: Daniel Rosen +1.215.299.6208
SOURCE Livent Corporation