First Phosphate raises $15.4 million to accelerate North American LFP battery supply chain

First Phosphate Corp. CEO John Passalacqua joined Steve Darling from Proactive to discuss the successful closing of a $15.4 million financing, strengthening the company’s balance sheet as it advances its vertically integrated phosphate-to-battery materials strategy in North America. Passalacqua noted that with this latest raise, First Phosphate has secured approximately $78 million since June 2022 through a combination of management-led non-brokered private placements and warrant and option exercises. The funding will support the company’s exploration, development, and downstream processing initiatives as it works to establish a fully integrated North American supply chain for lithium iron phosphate (LFP) batteries. The CEO highlighted growing industry momentum surrounding LFP battery technology, driven by increasing demand from energy storage systems, AI data centers, robotics, factory automation, electric mobility, and national security applications. He also pointed to rising i...