ICL Group Ltd Announces Termination of the Joint Venture Agreement with Shenzhen Dynanonic Co, Ltd for the Establishment of an LFP Cathode Active Material Production Facility in Spain

ICL Group Ltd. and Shenzhen Dynanonic Co Ltd. have jointly decided to terminate their agreement for a joint venture to establish an LFP cathode active material production facility in Spain. This decision follows the U.S. Department of Energy's discontinuation of funding for the facility in St. Louis and the lack of funding from the European Union. Additionally, lower-than-expected demand in the electric vehicle market and regulatory changes in the U.S. and China have impacted the project's economic feasibility, alongside high capital investments and operating costs.