Galaxy signs partnership deal with U.S. lithium battery producer

Lithium compound producer Galaxy Resources has signed a technology license agreement with US-based lithium ion battery producer K2 Energy Solutions Inc. in which K2 Energy will provide Galaxy with battery technology expertise, licensing ansolvent extraction and electrowinning machined commercial support for the construction and operation of Galaxy’s proposed Jiangsu battery manufacturing plant in China.

Galaxy Resources Managing Director, Iggy Tan, welcomed the prospect of K2 Energy as a technology partner for Galaxy’s prospective battery plant. “Ensuring that we will be able to complete construction and operation of the Jiangsu Lithium Carbonate plant in accordance with our revised timetable is our first priority, nonetheless this license agreement is important preparatory work for our proposed pipeline battery project. It is one of many important milestones that the Galaxy Board has set the Company before it approves the final battery project,” said Tan.

Tan said Galaxy will have the unrestricted and unlimited use of specific K2 Energy lithium battery technologies, valuable for the Ebike and other battery markets. Subject to Galaxy's board approving the battery project, K2’s lithium battery technology coupled with Korean state-of-the-art automated plant equipment, would help Galaxy to skip research and development and produce world-class lithium ion batteries.”

K2 Energy is a developer of large format batteries and battery systems based upon lithium iron phosphate technology. K2 Energy’s CEO, Dr. Johnnie Stoker said that it was a pleasure to be in partnership with a progressive company like Galaxy who has a very strategic ownership of the upstream lithium carbonate process and lithium resource base. “It is our belief that with our proven technology recipe and the Galaxy’s selection of Korean battery processing plant equipment will produce world class lithium batteries for any application,” said Stoker.