Mustang Vacuum Systems and Li-Metal Corp. collaborate on battery anode production

Li-Metal Corp., a developer of critical lithium metal and lithium metal anode technologies for next-generation batteries, has announced the signing of an exclusive strategic collaboration agreement with Mustang Vacuum Systems Inc., a global developer and manufacturer of industrial scale physical vapour deposition (PVD) equipment.

MVS, based in Sarasota, Florida, is a specialist in PVD equipment and technology with experience in the automotive, defense, and solar sectors. MVS and Li-Metal will work together to accelerate the development and commercialization of the Company’s roll-to-roll PVD anode technology, leveraging MVS’ experience developing PVD machines to improve equipment efficiencies and MVS’ equipment manufacturing facilities to deliver anode production machines.

The firms will collaborate exclusively in the development of PVD processes and equipment under the agreement, and MVS will build PVD equipment exclusively for Li-Metal and Li-Metal’s customers in the next-generation battery anode market. The exclusive partnership expands MVS’s large-scale sophisticated equipment research and manufacture capabilities while safeguarding Li-Metal’s intellectual property.

According to the terms of the agreement, Li-Metal and MVS intend to enter into additional definitive agreements within the next 28 days, including a Master Supply Agreement relating to MVS’s exclusive supply of PVD equipment and technologies, a Master Services Agreement relating to MVS’s support services to Li-Metal and its customers, and a Contract Operation and Production Agreement relating to MVS’s production services to Li-Metal and its customers.