FIRST Phosphate has signed an agreement with Port Saguenay to set up its factory and have its share of the cake in the $ 68 billion in LFP batteries.
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The announcement was made by press release this Friday, before the opening of the markets, by the mouth of the national public relations firm.
First Phosphate is worth $ 43 million on the stock market.
Access to the train, access to industrial infrastructure, vertical integration … The company sees many advantages to bet on this corner of the country.
“This agreement with First Phosphate confirms the central role of Saguenay in the development of the critical mineral sector in Quebec and Canada,” said Saguenay mayor, Julie Dufour.
More balanced sector
Last year, John Passalacqua, the number 1 of First Phosphate, said Journal That he hoped to obtain his 10 megawatts (MW) for his factory project at the bay so that electricity also serves to smaller projects.
“When there is only one big [joueur]you lose all of a sudden. When there are 50 small and medium-sized businesses, not only do you create employment here, but it is a more balanced way to manage the risk in the battery sector, “he said.
Around the world, the LFP battery market could flirt with the $ 68 billion within four years, according to First Phosphate.
Over 90% of LFP batteries come from China right now.
