Aleees and IFFCO are also exploring opportunities to build factories in Jordan
Advanced Lithium Electrochemistry (Aleees-Taiwan), a subsidiary of Lithium intellectual property service provider Aleees-Ky, signed a Memorandum of Understanding with The Indian Farmers Fertilizer Cooperative Limited (IFFCO), the world's and India's largest manufacturer of phosphoric acid and chemical fertilizers.
Both parties agreed to explore the transfer of technology authorized by Aleees to IFFCO to produce and build lithium iron phosphate (LFP) battery cathode material plants in India and Jordan to meet the huge Ex-China lithium battery supply chain needs of many multinational electric vehicle manufacturers and energy storage customers, and work together to strengthen the lithium battery industry in Europe, the United States, and the India-Pacific to eliminate the risk of multinational customers relying on China.
Aleees and IFFCO are also exploring opportunities to build factories in Jordan with end customers. Since Jordan and the United States have signed an FTA, the LFP produced by the Jordanian factory will be supplied to the U.S. market, and end customers can obtain high subsidies and tax credit from the U.S. IRA Act.
Jordan is also a reliable supplier of fertilizers, phosphates, phosphoric acid and other products to the United States, and IFFCO is the largest single buyer of Jordanian phosphates. IFFCO and JPMorgan Chase have also established a joint venture project worth US$860 million in Jordan for the production of phosphoric acid.
Lithium intellectual property licensing and technology transfer is the main business of Aleees. Aleees is responsible for completing the development and certification of customized products with end customers, and continues to work with international electric vehicle manufacturers to promote lithium iron phosphate LFP cathode material technology licensing in Europe, the United States, India and Australia.
IFFCO is the largest chemical fertilizer manufacturer in India and the world. There are 5 factories in India and 2 factories overseas. In the 2022-2023 financial year, the group's turnover was US$ 758 million and profit after tax was US$ 368 million.
In terms of operation, the total chemical production of IFFCO increased from 8.7 million tons the year before to 9.56 million tons, of which the production of urea increased from 4.36 million tons to 4.88 million tons, the production of diammonium phosphate (DAP)/ nitrogen-phosphorus-potassium fertilizer (NPK)/ water-soluble fertilizer (WSF) increased from 4.34 million tons to 4.68 million tons.
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