Perth:  – Galaxy Resources Limited is pleased to announce it has signed a technology license agreement (the Agreement) with the well established US-based lithium ion battery producer K2 Energy Solutions Inc. (K2 Energy).
Galaxy signs technology licence agreement with lithium ion

battery producer K2 Energy Solutions Inc

K2 Energy is an established lithium ion battery producer of

high energy density batteries

K2 Energy to provide expertise, licensing and commercial

support for Galaxy’s proposed battery plant in China

Galaxy to have unlimited use of specific and valuable

Energy lithium battery technologies

Under the Agreement, K2 Energy will provide Galaxy with battery technology expertise, licensing and commercial support for the construction and operation of Galaxy’s proposed Jiangsu battery manufacturing plant in China.
Galaxy Resources Managing Director, Iggy Tan, welcomed the prospect of K2 Energy as a technology partner for Galaxy’s prospective battery plant.

“Ensuring that we will be able to complete construction and operation of the Jiangsu Lithium Carbonate plant in accordance with our revised timetable is our first priority, nonetheless this license agreement is important preparatory work for our proposed pipeline battery project. It is one of many important milestones that the Galaxy Board has set the Company before it approves the final battery project,” said Mr Tan.

“Galaxy will have the unrestricted and unlimited use of specific K2 Energy lithium battery technologies, valuable for the E-bike and other battery markets. Subject to the Galaxy Board approving the Battery project, K2 Energy’s superior and proven lithium battery technology coupled with Korean state-of-the-art automated plant equipment, will help Galaxy to leap frog research and development and produce world-class lithium ion batteries.”

K2 Energy has a rapidly growing annual turnover, based upon its development of an innovative family of large format batteries and battery systems based upon lithium iron phosphate (LiFePO4 or “LFP”) technology. The company possesses key intellectual property for high performance lithium iron phosphate batteries, with some of its technology applications pending patent approvals.

K2 Energy also has significant experience in the pre-operational stage of battery manufacturing, in particular providing technology and licensing support to European Batteries Oy’s lithium battery manufacturing facility in Varkaus, Finland.

K2 Energy’s CEO, Dr. Johnnie Stoker said that it was a pleasure to be in partnership with a progressive company like Galaxy who has a very strategic ownership of the upstream lithium carbonate process and lithium resource base.

“It is our belief that with our proven technology recipe and the Galaxy’s selection of Korean battery processing plant equipment will produce world class lithium batteries for any application,” said Dr. Stoker.