WHAT IS PCAM?
Precursor
Cathode
Active
Materials
(pCAM)
PRODUCTS
Precursor cathode active materials are extremely high purity speciality crystals composed of electrochemically active metal hydroxides, such as nickel, cobalt, manganese and aluminum. They are the foundational material of the cathode, the positively charged and most valuable component of a lithium-ion (“Li-ion”) battery.
Lithium-ion batteries are the principal type of rechargeable battery used in electric vehicles, renewable energy storage systems, and consumer electronics. They are essential to the green energy revolution – without batteries, the world cannot transition towards a green economy. Without pCAM, there can be no lithium-ion (EV) batteries, and no energy transition.
pCAM demand is ultimately driven my market demand trends from the lithium-ion battery industry.
Global Li-ion Battery Cell Demand Driven by the eMobility Segment, GWh (Base)
China Dominates Global pCAM (2023)
MARKET
Approximately ~ US$300 billion is being deployed to electric vehicle and battery manufacturing in North America to 2030, but investment in precursor cathode active materials and cathode active materials production is lagging. There are growing structural gaps in North American pCAM and CAM capacity, risking the availability for planned local battery plants. It is estimated that by 2030 the pCAM to battery cell production deficit in North America will equate to 1.3 million tonnes of pCAM.
Today, ~95% of the world’s pCAM is made in China. There is no large-scale production of pCAM in North America.
The pCAM manufacturing capacity under construction or planned for the coming decade in Canada and the USA is far from sufficient to meet the demand from current and planned battery plants.
North American Midstream Gaps Accelerate into the Next Decade, Resolved with an Additional 50-100% Incremental Capacity (2015-2030)
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The North American midstream is categorised by a widening structural deficit, with the pCAM shortfall expanding to 480kt by 2030 against regional CAM; despite major integrated facilities e.g., General Motors & Posco JV – Ultium.
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The regional gap for pCAM to battery cell presents a greater risk to supply continuity and geopolitical risks, expanding to 1,280kt by 2030 – placing significant pressures on continued sourcing of pCAM from China.
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Today, ~ 96% of the world’s pCAM comes from China.
SUPPLY CHAIN
pCAM is the weakest link in the North American battery supply chain.
Positive Materials seeks to address the single greatest bottleneck to North American decarbonization: the midstream precursor cathode active material (pCAM).
Project Positive+ is being designed to offer local, independent Canadian pCAM as a service, enabling local consumption of Canadian critical minerals.
Project Positive+ will rely on commercially proven technology, to deliver exceptional standards of performance and sustainable manufacturing.
Positive Materials upholds uncompromising standards of environmental and social excellence, prioritizing sustainable manufacturing of high-quality battery materials. Our company is also committed to respecting and working in close collaboration with First Nations communities.
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