ICL & Dynanonic Ink Deal to Produce LFP for European Battery Market

Group 1 - ICL Group Ltd. has entered into a joint venture with Shenzhen Dynanonic Co., Ltd. to produce lithium iron phosphate (LFP) cathode active material in Europe, with an initial investment of approximately €285 million [1] - A new plant is planned at ICL's Sallent, Spain site, which will significantly expand the company's battery materials business and enhance its sustainable supply chain efforts [1][2] - This joint venture aims to leverage ICL's strong position in specialized phosphates and Dynanonic's expertise in battery materials, targeting growth in the European lithium-ion battery market [2][3] Group 2 - Establishing the project in Spain will strengthen the companies' presence in the European market, enhance competitiveness, and support their goal of becoming a leading global provider of energy material solutions [3] - ICL's stock has performed well, gaining 31% over the past year, significantly outperforming the Zacks Fertilizers industry's 2.4% increase [4] - ICL currently holds a Zacks Rank 1 (Strong Buy), indicating strong market confidence in the company's future performance [6]