CAMX Power Transfers GEMX Cathode License from Johnson Matthey to EV Metals Group

CAMX Power LLC (CAMX) announces it consented to Johnson Matthey Plc (JM) transferring its GEMX® and CAM-7® cathode license to EV Metals Group Plc (EVM). JM had previously obtained the license from CAMX, practicing it in its cathode business. JM has made the license part of the sale of its cathode business to EVM.

"When JM announced its exit from this sector in November 2021, CAMX was informed that the decision was based on JM's strategic and financial considerations and that the markets had actually reacted positively to the eLNO® cathode offer.  The JM press release of today confirms this, bolstered by JM's retention of an equity interest in EV Metals, and also linking eLNO to the GEMX and CAM-7 platforms" said Dr. Kenan Sahin, Founder/President of CAMX.

"The sale also includes Johnson Matthey's eLNO® technology, underpinned by the GEMX® and CAM-7® cathode platforms that the company licensed from CAMX. EV Metals Group will continue to develop eLNO, building on the successful customer testing programme that Johnson Matthey had undertaken."

He continued, "Since the cathode is nearly 50% of the Lithium-ion cell cost and half of that is for metals and since EV Metals already has operations in and access to the key battery metals including Lithium, it is ideally positioned to be a competitive major supplier of the best in-class cathode material that eLNO is to the European markets where demand is extraordinarily high with key OEMs now having fully embraced EVs."