Battery manufacturer Pure Lithium is acquiring vanadium cathode material producer Dimien's assets to advance commercial development of its lithium metal-vanadium (LVO) battery, which it touts as being safer, cheaper and more efficient than traditional electric vehicle (EV) batteries.
Massachusetts-based Pure Lithium will get New York-based Dimien's intellectual property and manufacturing equipment, along with its some of its personnel, as part of the deal, the company said today. Neither financial details nor the acquisition's closing date were disclosed.
Dimien has developed a class of vanadium-based cathode material known as zeta vanadium oxide (ZVO) that Pure Lithium plans to pair with the lithium metal anode it is developing with Canada-based lithium producer E3 Lithium. Using that cathode will allow for greater energy density and reduce fire risks associated with nickel-manganese-cobalt (NMC) and nickel-manganese-aluminum (NMA) lithium-ion batteries, Pure Lithium said.
Pure Lithium, which began as an electrode maker, aims to scale its vertically integrated production process that can turn out lithium metal-vanadium batteries in 48 hours, it said. Pure Lithium and E3 intend to explore the construction of a commercial battery facility near the latter's lithium brines in Alberta.
