Li-Metal Corp. and Mustang Vacuum Systems Inc. announce partnership on battery anode manufacturing
by CM Staff
Under the agreement, the companies will collaborate exclusively in developing PVD processes and equipment, and MVS will manufacture PVD equipment exclusively for Li-Metal.
Li-Metal Advanced Anode Lab in Markham Ontario
TORONTO — Li-Metal Corp., a developer of lithium metal and lithium metal anode technologies critical for next-generation batteries, announced the signing of an exclusive strategic collaboration agreement with Mustang Vacuum Systems Inc., a global developer and manufacturer of industrial scale physical vapour deposition (PVD) equipment.
With experience across the automotive, defence and solar sectors, MVS is a specialist in PVD equipment and technologies, operating in Sarasota, Florida. Jointly, MVS and Li-Metal will be able to accelerate the development and commercialization of the Company’s roll-to-roll PVD anode technology, leveraging MVS’ background in developing PVD machines to improve equipment efficiencies, and MVS’ equipment manufacturing facilities to deliver anode production machines.
Under the agreement, the companies will collaborate exclusively in developing PVD processes and equipment, and MVS will manufacture PVD equipment exclusively for Li-Metal and Li-Metal’s customers in the next-generation battery anode market. The exclusive collaboration adds MVS’ large-scale advanced equipment development and manufacturing capabilities, while protecting Li-Metal’s intellectual property.
Pursuant to the terms of the agreement, Li-Metal and MVS intend to enter into further definitive agreements within the next 28 days, which include a Master Supply Agreement relating to the exclusive supply by MVS of PVD equipment and technologies, a Master Services Agreement relating to support services to be provided by MVS to Li-Metal and its customers and a Contract Operation and Production Agreement relating to production services to be provided by MVS to Li-Metal and its customers.
“We are thrilled to collaborate with Li-Metal on next-generation battery materials and production technology,” said Richard Greenwell, President and co-founder of MVS. “We believe Li-Metal is an ideal partner for MVS to expand into the next-generation battery space with their combination of battery materials and product development expertise coupled with technological advancements in production processes. The Li-Metal team has proven their ability to produce high-performance, low-cost battery anode materials leveraging breakthrough roll-to-roll PVD technology. We look forward to working together to develop and commercialize world-leading commercial PVD equipment, processes and products, building on our proven “lab-to-fab” approach that we’ve successfully deployed in other industries.”
