ICL Group Abandons LFP Cathode Projects Amid Reduced Demand and Regulatory Challenges

ICL Group has halted its lithium iron phosphate (LFP) cathode facility projects in the US and Spain due to reduced demand forecasts, new regulatory and economic challenges, and the loss of government funding. This marks a shift away from the company's ambitions in advanced battery materials manufacturing, but does not affect its core fertilizer and specialty chemical businesses. The company has reduced its dividend and is focused on financial stability, despite changes in new-growth ambitions.