Company joined by Department of Energy
Secretary Jennifer Granholm, Missouri Governor Mike Parson, and
other local and global partners for historic event
ICL (NYSE: ICL) (TASE: ICL), a leading global specialty minerals
company, celebrated the groundbreaking of its battery materials
manufacturing plant in St. Louis, which is expected to be the first
large-scale lithium iron phosphate (LFP) facility in the U.S. The
$400 million facility is planned to be operational by 2025 and will
help meet growing demand from the energy storage, electric vehicle
(EV) and clean-energy industries for U.S.-produced-and-sourced
essential battery materials. ICL’s investment in the plant was
augmented by a $197 million grant from the U.S. Department of
Energy.
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Missouri Governor Mike Parson (center)
speaks with U.S. Secretary of Energy Jennifer M. Granholm following
a groundbreaking ceremony Tuesday, Aug. 8, 2023 at the site of
ICL’s future battery materials manufacturing facility in St. Louis.
The $400 million dollar plant will manufacture materials for
lithium iron phosphate batteries and will be the first large-scale
facility of its kind in the United States. Also pictured are (left)
Phil Brown, president of Phosphate Specialties Solutions at ICL
Group and (right) Raviv Zoller, president and CEO of ICL. Photo
Credit: ICL.
“President Biden’s Investing in America agenda is providing
historic funding that will bring down energy costs for electric
vehicles, create good jobs and keep the U.S. on the cutting edge,”
said U.S. Secretary of Energy Jennifer M. Granholm at the
groundbreaking event. “The momentous groundbreaking of ICL’s
battery materials manufacturing facility in St. Louis is part of a
manufacturing renaissance to build our country’s supply chain for
these clean energy products.”
“ICL is excited to be building the first North American,
commercial-scale plant for this critical component required by the
energy-storage, mobility and infrastructure end-markets, and we’re
proud to make this investment in St. Louis and to create more than
150 high-paying union and professional positions in our hometown,”
said Phil Brown, president of the company’s Phosphate Division and
managing director of North America for ICL. “We’re excited about
the demand we are already seeing for this capacity and are looking
forward to moving into this new business. Additionally, as we
rapidly move ahead, we are looking forward to partnering with some
of the premier participants in this exciting new industry.”
The 140,000-square-foot facility is expected to produce 30,000
metric tons of LFP and will serve as the foundation for the
company’s global battery materials business. The new plant will be
located on ICL’s existing Carondelet campus in St. Louis, which is
recognized by the Justice40 Initiative as a disadvantaged
community.
“We’re proud to have ICL Group in Missouri and even prouder to
be able to break ground on this first-of-its-kind facility in our
nation right here in St. Louis,” said Missouri Governor Mike
Parson. “We thank our local, state, and federal partners for
helping Missouri secure this project and making our state an easy
choice for ICL to grow and expand. We look forward to the company’s
success and the opportunities it will offer to Missourians in the
St. Louis region.”
The project will create 800 to 900 union construction positions,
and ICL has engaged St. Louis-based McCarthy Building Companies as
general contractor for the project. ICL is also partnering with
Aleees to establish a localized, integrated and sustainable LFP
supply chain for U.S.-based customers. Taiwan-based Aleees is a
long-standing LFP battery material manufacturer and global IP
licensor.
LFP is one of the fastest-growing sectors of the battery
industry, as this technology offers superior safety at a lower cost
and with a longer life. By 2031, E Source forecasts global demand
for iron phosphate-based cathode active materials will reach more
than 3 million tons, for a market value of more than $40 billion,
due to a shift toward the safer and lower-cost cathode materials
used in more affordable EVs and in energy storage solutions. The
new facility represents a significant expansion of ICL’s
energy-storage portfolio and demonstrates the company’s commitment
to developing high-quality specialty products for agricultural,
food, energy and industrial applications.
About ICL
ICL Group is a leading global specialty minerals company, which
creates impactful solutions for humanity's sustainability
challenges in the food, agriculture and industrial markets. ICL
leverages its unique bromine, potash and phosphate resources, its
global professional workforce, and its sustainability focused
R&D and technological innovation capabilities, to drive the
company’s growth across its end markets. ICL shares are dual listed
on the New York Stock Exchange and the Tel Aviv Stock Exchange
(NYSE and TASE: ICL). The company employs more than 12,500 people
worldwide, and its 2022 revenues totaled approximately $10
billion.
For more information, visit ICL's website at icl-group.com. To
access ICL's interactive CSR report, visit
icl-group-sustainability.com. You can also learn more about ICL on
Facebook, LinkedIn, YouTube and Instagram. For more information
about Aleees, please visit aleees.com/en. For more information
about McCarthy, please visit mccarthy.com.
Forward Looking Statements
This announcement contains statements that constitute
forward-looking statements, many of which can be identified by the
use of forward-looking words such as “anticipate,” “believe,”
“could,” “expect,” “should,” “plan,” “intend,” “estimate” and
“potential,” among others.
Forward-looking statements appear in this press release and
include, but are not limited to, statements regarding the company’s
intent, belief or current expectations. Forward-looking statements
are based on management’s beliefs and assumptions and on
information currently available to management. Such statements are
subject to risks and uncertainties, and actual results may differ
materially from those expressed or implied in the forward-looking
statements due to various factors, including, but not limited to:
estimates, forecasts and statements as to management's expectations
with respect to, among other things, business and financial
prospects, financial multiples and accretion estimates, future
trends, plans, strategies, positioning, objectives and
expectations, general economic, market and business conditions,
supply chain and logistics disruptions, energy storage and electric
vehicle growth, the potential for new COVID-19 variants, global
unrest and conflict, governmental and regulatory requirements and
actions by governmental authorities, including changes in
government policy, changes in environmental, tax and other laws or
regulations and the interpretation thereof. As a result of the
foregoing, readers should not place undue reliance on the
forward-looking statements contained in this press release
concerning the timing of the transaction, or other more specific
risks and uncertainties facing ICL, such as those set forth in the
“Risk Factors” section of its Annual Report on Form 20-F filed on
February 23, 2022, as such risk factors may be updated from time to
time in its Current Reports on Form 6-K and other filings ICL makes
with the U.S. Securities and Exchange Commission from time to
time.
Forward-looking statements refer only to the date they are made,
and the company does not undertake any obligation to update them in
light of new information or future developments or to publicly
release any revisions to these statements in order to reflect later
events or circumstances or to reflect the occurrence of
unanticipated events.
Acknowledgement and Disclaimer
Acknowledgment: This material is based upon work supported by
the Department of Energy under Award Number DE-MS0000012.
Disclaimer: This report was prepared as an account of work
sponsored by an agency of the United States Government. Neither the
United States Government nor any agency thereof, nor any of their
employees, makes any warranty, express or implied, or assumes any
legal liability or responsibility for the accuracy, completeness,
or usefulness of any information, apparatus, product, or process
disclosed, or represents that its use would not infringe privately
owned rights. Reference herein to any specific commercial product,
process, or service by trade name, trademark, manufacturer, or
otherwise does not necessarily constitute or imply its endorsement,
recommendation, or favoring by the United States Government or any
agency thereof. The views and opinions of authors expressed herein
do not necessarily state or reflect those of the United States
Government or any agency thereof.
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Investors/Press - Israel Adi Bajayo ICL Spokesperson
+972-3-6844459 Adi.Bajayo@icl-group.com
Press – Global Patrick Barry BYRNE PR +1-314-540-3865
Patrick@byrnepr.net
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