The African Development Bank Group (AfDB) has officially approved a €100 million (approximately $114 million) loan to Gotion Power Morocco, a subsidiary of Gotion High‑Tech, for the construction of the first lithium iron phosphate (LFP) battery gigafactory in Africa and the MENA region. As the lead arranger under the “New Architecture for Financing Africa's Development” (NAFAD) initiative, the AfDB also plans to raise up to an additional €141 million from partner financial institutions to ensure sufficient project funding. The project is located in Phase III of the Kenitra Atlantic Free Zone, in the Rabat‑Salé‑Kenitra region of Morocco, and covers the full industrial chain from cathode material production, cell manufacturing, to battery pack assembly. Phase I is planned with an annual capacity of 10 GWh for EV battery cells and packs; with subsequent phased expansions, the total capacity is expected to gradually reach 100 GWh in the long term. Phase I is projected to directly create more than 600 high‑skilled jobs and raise Morocco's local industrial integration rate to 70%, significantly boosting the local supplier ecosystem and technical workforce development. AfDB Vice President Kevin Kariuki noted that battery energy storage is the “missing piece” in Africa's clean energy transition. The plant will primarily operate on renewable energy (wind and solar power), which will not only support large‑scale grid integration of new energy but also provide low‑carbon and reliable energy storage solutions. Leveraging Morocco's abundant phosphate resources and China's advanced battery refining and manufacturing technologies, the project will accelerate the local high‑value‑added conversion of critical minerals, shifting away from the traditional export of raw materials. It will help Morocco establish itself as a green mobility industrial hub serving both Europe and the entire African continent. This investment is highly aligned with the AfDB's four strategic pillars: resilient infrastructure development, accelerated industrialization, regional integration, and value addition to natural resources. It marks a milestone in the improvement of Africa's new energy industrial chain.

In 2026, as restored lithium iron phosphate (LFP) capacity expands from 150,000–160,000 tons to 170,000–180,000 tons, traditional hydrometallurgical LFP recycling companies are facing a wave of profit and competitive landscape reshaping driven by rivalry between different technological routes.

On July 28, the Yantai Municipal Ecology and Environment Bureau formally approved the Environmental Impact Assessment for Wanhua Chemical (Penglai) Co., Ltd.'s 240,000-tonne-per-year iron phosphate project. The project, located on reserved land in Phase II of the Wanhua Penglai Industrial Park, involves a total investment of RMB 1.5 billion. It will build a 240,000 t/y iron phosphate production unit along with supporting auxiliary facilities and environmental protection systems. The batching section operates on an intermittent basis, with 2,000 batches per year (one batch every four hours), each producing 120 tonnes of iron phosphate. The project will help alleviate raw material supply pressures driven by Wanhua’s rapidly expanding lithium iron phosphate (LFP) capacity in Shandong—where the company is set to add 820,000 tonnes of LFP capacity in 2026 alone, making Yantai a key LFP production hub.

L&F will supply lithium iron phosphate (LFP) cathode materials to U.S. battery startup Coreshell Technologies for 8 years. Coreshell announced on July 10 local time that it has signed a long-term LFP cathode supply contract with L&F.

The essence of this supply crunch is a "three-layered squeeze": Layer 1: Physical cutoff – the Hormuz blockade severed Middle Eastern supply, halting nearly half of global seaborne trade. Layer 2: Policy lockdown – overlapping export bans from Russia, Kazakhstan, and Turkey blocked alternative supply sources, further tightening global tradable volumes. Layer 3: Capacity and inventory collapse – war-damaged Middle Eastern production facilities are slow to restart.

Eku Energy has acquired the 400MW/1,600MWh Dion battery energy storage project in Lower Saxony, Germany. The project is expected to become one of the country's largest battery storage facilities, with a direct connection to the transmission grid and black-start capability. It is currently in an advanced stage of development and is targeted for commissioning by the end of 2029. The BESS will use lithium iron phosphate (LFP) technology.

On June 28, Guangzhou Rongjie Energy Technology Co., Ltd. ("Rongjie Energy") officially signed a 3 GWh cooperation agreement with India‑based energy storage integrator Lineage Power Systems Pvt Ltd ("Lineage Power"). Under the agreement, Rongjie Energy will supply a total of 3 GWh of 314Ah lithium iron phosphate (LFP) cells and related accessories to Lineage Power for its utility‑scale and commercial & industrial (C&I) energy storage projects, covering both the Indian and international markets. The agreement also covers pricing, quality specifications, warranty terms, and delivery schedules, and includes provisions for joint quality assurance, technical collaboration on system integration, and supply chain transparency, providing long‑term supply chain security for Lineage Power's energy storage projects. Rongjie Energy's manufacturing base in the Guangdong‑Hong Kong‑Macao Greater Bay Area offers significant logistical advantages, enabling efficient delivery to India and other overseas markets.

Battery company PNT has invested KRW 150 billion to build a lithium iron phosphate (LFP) cathode and battery cell production plant at Gumi High-Tech Valley, also known as the National Industrial Complex 5, in Gumi, North Gyeongsang Province.

On June 26, Sichuan Development Lomon announced that its wholly-owned subsidiary, Deyang Sichuan Development Lomon, had previously planned to establish a wholly-owned subsidiary in the Xinshi Chemical Industrial Park in Mianzhu City, Sichuan Province, to invest in and construct a 100,000-ton-per-year lithium iron phosphate (LFP) project. However, in view of changes in market conditions and in order to optimize resource allocation, and after comprehensive consideration of the actual implementation conditions and other relevant factors, the Board of Directors, following prudent deliberation, approved the termination of the establishment of the wholly-owned subsidiary by Deyang Sichuan Development Lomon. As of the date of this disclosure, the above investment had not been substantively initiated or implemented. The termination of this investment will not have an adverse impact on the Company, and there is no harm to the interests of the Company or its shareholders as a whole.

China's exports of lithium iron phosphate (LFP) in May 2026 reached 7,625.4 tonnes, up 29.3% month-on-month from April and surging 710.0% year-on-year from May 2025, setting a new high for a single month this year.