company
I.C.L
-0.13%
Base:3,039
opening:3,046
High:3,085
low:3,020
change:20,758,490
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(ICL), which produces potash, chemicals, phosphates and fertilizers, will build a plant in St. Louis, USA, to produce cathode material for LFP batteries with an investment of approximately 400 million dollars. The plant is expected to be the first to produce LFP materials on an industrial scale in the United States. The company won federal funding in the amount of 197 million dollars through the bipartisan infrastructure law, subject to the completion of negotiations with the Ministry of Energy.
The plant, which is expected to start operating during the year 2024, will produce LFP materials for the lithium battery industry, will be built on an area of 11,150 square meters and will have two production lines where each line will be able to produce 15,000 tons of LFP material per year. The new plant will be located on the Carondelet campus ICL’s existing in St. Louis.
Among ICL’s partners will be included Aleees (Advanced Lithium Electrochemistry Co., Ltd) – a manufacturer of LFP battery materials that will provide the LFP technology, and Inc, Companies Building McCarthy – a construction company that will oversee the management of the construction and which is also located in St. Louis.
Since the beginning of the year, ACL shares have risen by 9% to a price of NIS 30.7, which represents a value of NIS 39.58 billion. The company’s profit in the first half of this year amounted to $1.24 billion on revenues of $5.4 billion. In the entire year 2021, the company earned 832 million dollars on revenues of 6.95 billion dollars. The value expresses a profit multiplier of 7.
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