Lithium iron phosphate (LFP) batteries are a type of lithium-ion battery that has gained popularity in recent years due to their high energy density, long life cycle, and improved safety compared to traditional lithium-ion batteries.
Specifically, the LFP cathode material—chemical formula LiFePO4—is more stable than other Li-ion cathode materials, which means the battery has a greater resistance to thermal runaway. LFP batteries also have the advantage of not requiring expensive metals such as cobalt, nickel, or manganese, which keeps their costs lower.
At 3.3V, the cells of LFP batteries have a lower nominal voltage than traditional Li-ion batteries, though that figure is still higher than that of lead-acid batteries. And LFPs hold 3–5 times the energy of a lead-acid battery of the same weight and 2–3 times the energy of a lead-acid battery of the same volume.
LFP batteries are commonly used in a variety of applications, including electric vehicles, solar panels, and portable electronics. As we recently reported, LFPs are also being looked at as drop-in replacement batteries for military ground vehicles.
As LFP technology has gained in popularity, a number of key players have emerged in the marketplace. Read on to learn about eight of the rising lithium iron phosphate companies.