Press release

Stratus Materials Announces Updates for its Next-Generation LXMOTM Cathode Materials

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Stratus Materials Inc., a company focused on the development and commercialization of advanced cathode active materials (CAMs) for lithium-ion batteries, today announced a set of important updates on the performance and value of its next generation LXMOTM CAMs, its sampling efforts with customers and partners in the electric vehicle (EV) supply chain, and its future scaling plans.

Earlier this year, the company emerged from stealth and announced it was producing its proprietary LXMO cathode active material at an early pilot-scale. Since then, the team has made significant progress against its goals, with new milestones including:

LXMO Performance and Value – The company released a new white paper titled, “Modified Lithium-Rich/Manganese Rich Cathode Active Materials at Stratus Materials: The Performance and Benefits of LXMOTM” that provides a quantitative summary of the unique and valuable combination of performance, safety, and cost that LXMO CAMs can deliver to the lithium-ion battery industry. This document shows how LXMO, when implemented in traditional full cells, can deliver battery performance that meets or exceeds cells containing high-nickel NMC CAMs while providing the high safety and low cost per unit energy of LFP CAMs. This combination of attributes is particularly attractive to and enabling for the electric vehicle industry.

LXMO Sampling – In February, Stratus began sampling its LXMO materials to a set of potential customers and partners in the EV industry. These initial sampling efforts have validated the company’s internal testing results and will be expanding in the coming quarters.

LXMO Scaling – Stratus is currently producing its LXMO CAMs at a rate of over one ton per year on its Pre-Pilot line in Pittsburgh. To increase production capacity and to demonstrate that LXMO can be produced effectively at higher volumes, the company has begun work on a 30 ton per year Pilot line that will be operational in mid-2024. This new Pilot line will allow Stratus to expand the scope of its testing and sampling efforts which will include deploying its materials into large-scale battery packs and electric vehicles.

Jay Whitacre, CEO & CTO of Stratus Materials, said: “The pace of progress at Stratus has been exceptional, and we are excited about this next step towards full commercialization. Our next-generation CAM materials will have a dramatic and positive impact on the EV industry in the coming years and we look forward to continuing this momentum.”

Mr. Whitacre will be speaking at the Advanced Automotive Battery Conference (AABC) in San Diego, CA next month. Please contact the company at info@stratusmaterials.com for more information or to inquire about a meeting.

ABOUT STRATUS MATERIALS

Stratus Materials (www.stratusmaterials.com) is a U.S. based company focused on the development and commercialization of next-generation cathode active materials for lithium-ion batteries. Our mission is to disrupt the CAM supply chain by offering materials with a game-changing combination of performance, safety, and cost. Stratus is primarily focused on cathode solutions for light- and medium-duty electric vehicles and other applications with similar requirements.