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WHAT IS pCAM?

(PRECURSOR CATHODE ACTIVE MATERIALS)

pCAM
Without pCAM, there can be no lithium-ion (EV) batteries, and no energy transition.

  • pCAM is a fine crystalline powder composed of electrochemically active transition metal hydroxides (such as Ni, Co, Mn and AI).

 

  • It is the precursor material of the cathode, the most valuable component of a lithium-ion battery – 51% of total value.

 

  • pCAM is produced in a simple but technologically sophisticated aqueous dissolution and crystallization process.

 

  • pCAM is then converted into Cathode Active Materials (CAM), ceramic-like nano-powders, in an advanced thermal process that also introduces lithium ion and conductive coatings into the CAM.

 

  • CAM then becomes the cathode, or positive end of the battery. 

pCAM production process
Li Ion Battery
pCAM is a critical component in the manufacturing of Li-Ion battery cathodes, which can account for over 51% of the value of a Lithium-ion battery.
pCAM MARKET

pCAM demand is driven by market demand trends from the lithium-ion battery industry, including automotive, energy storage systems, electronics, tools, appliances and a multitude of other modern applications:

Global Li-ion battery cell demand driven by the eMobility segment, GWh (base)
pCAM Market Drivers

China Dominates Global pCAM Production and Supply 

China Controls ~96% of global pCAM supply (2023)
pCAM production by country

  • Approximately ~ US$300 billion is expected to be deployed to develop electric vehicle and battery manufacturing in North America to 2030, but investment in pCAM precursor and cathode active materials production is lagging. There are growing structural gaps in North American pCAM and CAM (cathode) 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.

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  • Today, ~96% of the world’s pCAM is made in China. There is only one small pCAM producer in North America. More pCAM production capacity is needed to build a resilient battery supply chain that enables local value-adding  for North American critical minerals.​

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  • pCAM manufacturing capacity under construction or planned in Canada and the USA is not sufficient to meet demand from current and planned North American battery plants.​​​

North American Midstream Gaps Accelerate into the Next Decade
pCAM Market Demand

  • The North American midstream is categorized by a widening structural deficit, with the pCAM shortfall expanding to 550kt by 2035 against regional CAM; despite major integrated facilities under construction today e.g., General Motors & Posco JV – Ultium.

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  • The regional gap for pCAM to battery cells presents a greater risk to supply continuity considering geopolitical risks (expanding to 1,528kt by 2035) – perpetuating the critical reliance on pCAM from China, and the exportation of North American critical minerals and recycled batteries for processing in Asia.

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Source: SC Insights 2024 ©

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pCAM SUPPLY CHAIN

pCAM is the weakest link in the North American battery supply chain.

 

Positive Materials seeks to address the single greatest bottleneck to on-shoring North American battery production - precursor cathode active material (pCAM) production.

 

Project Positive+ was envisioned as a solution to offer local, independent Canadian pCAM production, in the form of a toll-processing service, creating a local market for Canadian critical minerals and local production of pCAM for the North American battery market.

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Positive Materials is pursuing uncompromising standards of environmental and social excellence, while prioritizing sustainable manufacturing of high-quality battery materials. Our company is also committed to respecting and working in close collaboration with the two local indigenous communities on whose ancestral territory Project Positive+ is located, the Pabineau First Nation and the Ugpi’Ganjig First Nation.

Close-up of Microscope
pCAM TECHNOLOGY
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pCAM is produced in highly sophisticated facilities.  While the pCAM production process is simple at its essence, it requires advanced technologies and knowhow due to the extreme purity of the materials used and produced, and the manufacturing precision that must be achieved.

pCAM production process
SELECTING THE BEST pCAM TECHNOLOGY

Positive Materials has strived to establish a strategic relationship with a respected pCAM producer and to secure top-tier technological expertise. Our goal was to secure a Technical Support and Technology Licensing partnership with an established, qualified global pCAM producer and technology leader.

 

We recently completed a rigorous pCAM Technology Partner selection process. Fourteen potential commercially-proven technology providers were evaluated since 2023. Ten pCAM plants were visited in the last year. Three pCAM Technology Partners were short-listed, and Kansai Catalyst Co. Ltd., a respected Japanese pCAM producer, as selected as our technology provider in January 2025. Our goal was to secure the one best suited to help us to reliably and sustainably produce cutting-edge, high-quality pCAM formulations.

 

Kansai has agreed to share its pCAM manufacturing technology, recipes and knowhow with Positive, and to assist in the design and planning of the Project Positive+ plant. Kansai will furthermore provide R&D capabilities, pilot plant use and operator training programs.

 

We are advancing a tolling business model, aiming to work in close collaboration with two or possibly three major North American customers.

 

We will deploy only mature, commercially proven technology, seeking to eliminate technological risk. We aim to deliver value, quality, impeccable provenance and a low carbon footprint.

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