What First Phosphate does

First Phosphate Corp. (CSE: PHOS; OTCQX: FRSPF; OTCQX-ADR: FPHOY; FSE: KD0) is a Canadian pre-revenue mineral development company headquartered in Saguenay-Lac-Saint-Jean, Quebec, dedicated to extracting and purifying igneous phosphate from its Quebec properties to supply the North American lithium iron phosphate (LFP) battery value chain. The company's vertically integrated platform converts high-purity igneous anorthosite phosphate rock (~1% of global deposits) into a cascade of battery-materials products: open-pit mining at Bégin-Lamarche and Lac-à-l'Orignal produces phosphate concentrate (~40% P2O5) via a solventless pilot plant at SGS Canada; concentrate is upgraded into merchant-grade and battery-grade Purified Phosphoric Acid (PPA) under a licensed Central-Prayon Process agreement with Prayon SA (Belgium); PPA, combined with iron powder from GKN Hoeganaes (Tennessee), lithium carbonate from Century Lithium (Nevada) and graphite from Nouveau Monde Graphite (Quebec), is converted into LFP cathode active material (CAM) and commercial-grade LFP 18650-format battery cells assembled by Ultion Technologies in Las Vegas. The PEA-stage Bégin-Lamarche project projects 900,000 tpy of phosphate concentrate plus 380,000 tpy of magnetite by-product over a 23-year mine life, with pre-tax NPV C$2.100B and IRR 37.1% at an initial capex of C$675M. The company's broader land package spans ~1,500 sq km of royalty-free district-scale claims capable of supporting an estimated ~350+ GWh of annual LFP battery production.

First Phosphate's revenue model is enterprise-direct B2B, centered on long-term offtake agreements and binding MOUs with industrial offtakers. Definitive offtake agreements signed at the June 2026 G7 Summit cover a minimum 200,000 tpy of phosphate concentrate and 60,000 tpy of phosphoric acid, with US$523,017.59 in initial pre-payment already received in February 2026. Additional MOUs target up to 40,000 tpy of LFP CAM with American Battery Factory (Tucson gigafactory), 6,000 tpy of LFP/LFMP CAM with Ultion Technologies, and a Prayon offtake of up to 400,000 tpy at Lac-à-l'Orignal. By-product streams include magnetite-to-iron-powder sales to GKN Hoeganaes and phosphogypsum upcycled into Rapidwall/Rapidseal building materials. To date, the company has financed development through ~C$78M in 11 private placements since June 2022, warrant exercises (C$3.07M), a C$315,236 Quebec research grant, and a C$16.7M non-repayable NRCan contribution (March 2026); it also holds Letters of Interest from Denmark's EIFO (up to €170M/~C$275M), US EXIM Bank (up to US$170M), and Italian institutions SACE, CDP, SIMEST and MAIRE Group. The company is currently pre-revenue, debt-free, with ~C$35M in cash and was selected as one of only 13 projects under the G7 Critical Minerals Resilience and Production Alliance.

Name

First Phosphate

Legal name

First Phosphate Corp.

Website

https://firstphosphate.com

Company type

Public

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

First Phosphate is a Canadian pre-revenue mineral developer that extracts and purifies igneous phosphate from Quebec properties to produce battery-grade phosphoric acid, LFP cathode active material, and 18650 battery cells for North American LFP battery supply chains.

Ownership category

akta.pro rank

Headquarters

HQ city

Saint-bruno-lac-saint-jean

HQ country

Canada

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Technology or R&D, Infrastructure, Supply Chain, Marketing or Sales

Revenue model

1. Phosphate concentrate offtake (future): Definitive offtake agreements for minimum 200,000 tonnes per annum of beneficiated phosphate concentrate from the Bégin-Lamarche mine; partially prepaid with a US$523,017.59 initial payment received in February 2026. PEA indicates planned annual production of 900,000 tpy of concentrate at 40% P2O5 over a 23-year mine life.
2. Phosphoric acid offtake (future): Definitive offtake agreements for minimum 60,000 tonnes per annum of phosphoric acid from the planned Port Saguenay PPA plant (Ballestra/Maire technology supported by Italian institutions). Future revenue from merchant-grade and battery-grade phosphoric acid sales.
3. LFP cathode active material and battery cells (future): Planned downstream sale of LFP CAM and 18650-format battery cells produced from North American critical minerals via partnerships with ABF (up to 40,000 tpy offtake MOU), Integrals Power (iron phosphate precursor JDA), Sun Chemical (LFP CAM MOU) and Ultion (cell assembly + 6,000 tpy LFP/LFMP CAM MOU).
4. Iron powder / magnetite by-product sales (future): By-product magnetite (planned 380,000 tpy at 92% Fe2O3) processed by GKN Hoeganaes into Ancorsteel iron powder used as LFP CAM precursor.
5. Gypsum recycling into Rapidwall/Rapidseal (future): Phosphogypsum by-product upcycled into Rapidwall/Rapidseal building products for rural, Indigenous and disaster-relief housing in North America.
6. Pre-revenue developer (current status): Company is currently pre-revenue; operational funding has been raised through 11 brokered non-brokered private placements totaling approximately C$78 million since June 2022 plus warrant exercises (C$3.07M) and government grant (C$16.7M non-repayable).

Go-to-market motion5 records

Distribution channels6 records

Marketing channels8 records

Core offering

First Phosphate is a pre-revenue mineral development company that extracts and purifies high-purity igneous anorthosite phosphate from its Bégin-Lamarche and Lac-à-l'Orignal properties in Saguenay-Lac-Saint-Jean, Quebec, and converts it into a cascade of battery-grade materials: solventless phosphate concentrate, battery-grade purified phosphoric acid (PPA), iron powder from magnetite, LFP cathode active material, and commercial-grade LFP 18650-format battery cells — all sourced from North American critical minerals for sale to LFP battery cell manufacturers and industrial offtakers under long-term offtake agreements.

Product overview

First Phosphate Corp. (CSE: PHOS; OTCQX: FRSPF; OTCQX-ADR: FPHOY; FSE: KD0) operates a vertically integrated mine-to-market LFP battery supply chain platform anchored by three Quebec phosphate properties — the flagship Bégin-Lamarche Phosphate Property, the secondary Lac-à-l'Orignal Phosphate Property, and the early-stage Bluesky Land Package of additional claims. Its core platform converts high-purity igneous anorthosite phosphate rock into a sequential cascade of battery-material products: Phosphate Concentrate (produced via a solventless pilot plant at SGS Canada, ~40% P2O5) is upgraded into Purified Phosphoric Acid (PPA) under a licensed technology agreement with Prayon SA (Belgium) using the Central-Prayon Process; the PPA feeds into an LFP CAM – LFP Battery Cell Pilot Production Plant that pairs the phosphate stream with iron powder from GKN Hoeganaes (Tennessee), lithium carbonate from Century Lithium (Nevada), and graphite from Nouveau Monde Graphite (Quebec) to produce commercial-grade LFP 18650 battery cells assembled by Ultion Technologies. Supporting the platform, the Iron Powder sub-product valorizes the deposit's magnetite via GKN Hoeganaes' Ancorsteel process, while the Gypsum Recycling module up-cycles phosphogypsum by-product into Rapidwall/Rapidseal building materials for housing in rural and Indigenous communities. All products target end markets including energy storage, AI data centers, robotics, mobility, defense, and national security.

Differentiator

Problem solved

Functional benefit

Brands

• The First Phosphate Take: Editorial newsletter series published in English, French and German on current events shaping the lithium iron phosphate (LFP) battery supply chain in North America.

Products and services

• Phosphate Concentrate High-purity igneous apatite phosphate concentrate (~40% P2O5) produced via a fully solventless, environmentally friendly extraction flowsheet at the SGS Canada pilot plant in Quebec City. Recoveries of 91.4% apatite to a 40.2% P2O5 concentrate are achieved, with marketable ilmenite and magnetite by-products. Sold as a feedstock for downstream battery-grade phosphoric acid production.
• Purified Phosphoric Acid (PPA) Battery-grade purified phosphoric acid produced from First Phosphate's phosphate concentrate using Prayon's Central-Prayon Process (CPP) under a licensed technology agreement signed December 2024. Validated at Prayon's Engis, Belgium facility against Prayon food grade / battery-grade specification with a 91.1% conversion ratio confirmed. Samples are available to selected clients at nominal fee for LFP CAM homologation.
• Iron Powder High-purity iron powder produced by GKN Hoeganaes (Tennessee, USA) using its proprietary Ancorsteel melting process from First Phosphate's magnetite concentrate. Serves as the critical iron precursor for LFP cathode active material production.
• LFP Cathode Active Material (LFP CAM) LFP cathode active material (CAM) produced using First Phosphate's PPA (Prayon-processed from Bégin-Lamarche phosphate), GKN Hoeganaes iron powder, Century Lithium lithium carbonate (Nevada) and Nouveau Monde Graphite active anode material (Quebec), under Integrals Power licensing. Sold under MOUs to American Battery Factory (up to 40,000 tpy), Ultion (6,000 tpy LFP/LFMP CAM) and Sun Chemical.
• LFP 18650 Battery Cells Commercial-grade lithium iron phosphate 18650-format battery cells produced entirely from North American critical minerals. Cells are assembled by Ultion Technologies in Las Vegas and targeted at robotics, automation, military and defense, data centers, telecommunications, medical devices, consumer electronics, electric mobility, drones, UAVs, power tools, solar storage, and home energy backup applications as a domestic alternative to Chinese-dominant LFP cell supply.
• Clean Phosphogypsum Recycling (Rapidwall / Rapidseal) Circular-economy valorization of clean phosphogypsum by-product from MGA production. Rapidwall/Rapidseal (RBS) successfully tested First Phosphate phosphogypsum as direct feedstock for building materials without additional purification, enabling construction of approximately 25,000 three-bedroom homes per year from a 150,000-tonne PPA plant's gypsum output.

Named customers6 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature6 records

Partnerships

27 partnerships are on record, tiered flagship, minor and core.

• MAIRE Group (Italy)flagshipImplementation/ SI/ Consulting Partner · 17 June 2026Letter of Interest signed at the G7 Summit (June 17, 2026) by MAIRE Group, in conjunction with Italian state-linked SACE, CDP and SIMEST, to provide engineering and project-development support for the Port Saguenay phosphoric acid plant deploying Ballestra technology.
• Simone Capital Corp.minorGTM or Marketing Partner · 18 May 2026Engaged May 2026 to provide investor awareness services including coordinating meetings with retail brokers, portfolio managers, analysts and individual investors for a monthly fee of C$6,250 through January 2027.
• Connect 4 Marketing Ltd.minorGTM or Marketing Partner · 18 May 2026Engaged for digital marketing and communications services, including social media consultation and corporate video dissemination, for an initial cash compensation of C$75,000 until December 2026.
• Nouveau Monde Graphite (NYSE: NMG)coreTechnology or Integration · 3 September 2025Supplied natural graphite-based active anode material from Quebec operations used in First Phosphate's commercial-grade North American LFP 18650 battery cells (announced September 3, 2025).
• Port Saguenay (Administration portuaire de Saguenay)flagshipStrategic or Co-development Partner · 18 July 2025MOU (October 12, 2022) and subsequent agreement (July 18, 2025) to establish the phosphoric acid plant at Port Saguenay, securing deep-sea access to global markets. Government of Canada also announced investment to build a second wharf at Port Saguenay (November 13, 2025).
• Century Lithium Corp.coreStrategic or Co-development Partner · 8 July 2025Joint milestone producing commercial-grade LFP 18650-format battery cells using Century Lithium's lithium carbonate (from Angel Island project, Nevada) processed at its Demonstration Plant, combined with First Phosphate's Quebec high-purity phosphoric acid and iron powder; assembled by Ultion Technologies in Las Vegas (July 8, 2025).
• Ultion Technologies Inc. (Las Vegas, Nevada)coreStrategic or Co-development Partner · 7 July 2025MOU (December 11, 2023) for purchase of LFP/LFMP commercial production technology and offtake of 6,000 annual tonnes of LFP CAM for specialty products. Ultion assembled First Phosphate's commercial-grade LFP 18650-format battery cells from North American critical minerals at its Las Vegas pilot facility (announced July 7, 2025).
• Prayon Technologies SA (Belgium)flagshipOEM/ Whitelabel/ Licensing Partner · 2 December 2024Long-term strategic relationship anchored by an MOU (Feb 23, 2023) and a Central-Prayon Process (CPP) license agreement (Dec 2, 2024). Prayon has produced battery-grade Purified Phosphoric Acid (PPA) from First Phosphate's high-purity igneous phosphate concentrate at its Engis, Belgium facility; Prayon is a world-leading phosphate producer with 1,400 employees and shareholders including Morocco's OCP and Belgium's Wallonie Entreprendre. Up to 400,000 tpy offtake MOU in place at the Lac à l'Orignal property.
• GKN Hoeganaes (division of GKN Powder Metallurgy)flagshipStrategic or Co-development Partner · 20 November 2024Strategic collaboration announced November 20, 2024. GKN Hoeganaes successfully integrated First Phosphate's magnetite into its proprietary Ancorsteel melting process to develop a high-purity iron powder as precursor for LFP cathode active material, advancing the North American LFP battery supply chain.
• Pekuakamiulnuatsh Takuhikan (Mashteuiatsh First Nation)coreStrategic or Co-development Partner · 9 April 2024Collaboration agreement signed April 9, 2024 between Pekuakamiulnuatsh First Nation and First Phosphate, aiming to combine critical minerals, energy transition, de-carbonization and Indigenous community development. Co-organized the inaugural Indigenous Business Panel at THE Mining Investment Event of the North (Quebec City, June 4–6, 2024).
• Groupe GoyettecoreChannel Partner/ Reseller/ Distributor · 13 March 2024MOU signed March 13, 2024 for logistics footprint at the Hebertville-Station intermodal facility in the Saguenay-Lac-Saint-Jean region.
• NAI Interactive Ltd.minorGTM or Marketing Partner · 4 March 2024Entered into a marketing agreement for promotional activities (March 4, 2024).
• Craler (a division of TFI International)coreChannel Partner/ Reseller/ Distributor · 28 February 2024MOU signed February 28, 2024 for the development of global logistical competencies (dedicated, specialized and intermodal transportation plus full supply and delivery logistics planning) to and from the Saguenay-Lac-Saint-Jean region.
• Integrals Power LimitedcoreStrategic or Co-development Partner · 15 February 2024Licensing agreement (March 28, 2023) for LFP production technology; Joint Development Agreement signed February 15, 2024 to produce environmentally compliant battery-grade Iron III Phosphate Precursor for the LFP battery industry. Part of the broader ABF-Integrals-First Phosphate consortium MOU signed January 25, 2024 to produce LFP CAM and battery cells in North America.
• Lithium AustraliaminorStrategic or Co-development Partner · 6 December 2023MOU signed December 6, 2023 for joint development of an LFP / LFMP pilot and commercial plant.
• Sun Chemical CorporationminorStrategic or Co-development Partner · 29 November 2023MOU signed November 29, 2023 for the development of a Lithium Iron Phosphate CAM manufacturing business in North America.
• American Battery Factory (ABF)flagshipStrategic or Co-development Partner · 13 September 2023MOU signed September 13, 2023 to on-shore up to 40,000 tonnes of annual LFP cathode active material production in North America for ABF's Tucson, Arizona gigafactory (two million sq ft, 1,000 jobs, $1.2B capex, $3.1B economic impact). ABF signed subsequent offtake agreements for 4.5 GWh of initial output from its Arizona gigafactory.
• American Battery Factory (ABF) — material supply MOUflagshipStrategic or Co-development Partner · 13 September 2023MOU signed September 13, 2023 to on-shore up to 40,000 tonnes of annual LFP cathode active material production in North America, supporting ABF's network of safe LFP cell giga-factories in the United States beginning with the Tucson, Arizona site.
• Norfalco (a division of Glencore Canada)coreStrategic or Co-development Partner · 18 July 2023MOU entered July 18, 2023 to secure supply of sulfuric acid required for downstream phosphoric acid production.
• SGS Canada Inc. (Québec City)coreImplementation/ SI/ Consulting Partner · 19 June 2023SGS Quebec hosts the Company's solventless Phosphate Concentrate Pilot Plant and conducted the preliminary metallurgical testwork that delivered a 91.4% apatite recovery at 40.2% P2O5. SGS is also a Qualified Person under NI 43-101.
• CMAX / Regional Conference of the Prefects of Saguenay-Lac-Saint-JeancoreImplementation/ SI/ Consulting Partner · 3 April 2023Collaboration agreement announced April 3, 2023 to maximize regional economic benefits, connect First Phosphate with the regional entrepreneurial workforce and ensure regional suppliers benefit from major-project procurement.
• P&E Mining Consultants Inc.coreImplementation/ SI/ Consulting Partner · 6 March 2023Engaged March 6, 2023 to complete the Preliminary Economic Assessment on the 100% owned, NSR royalty-free Lac à l'Orignal phosphate project; also served as independent Qualified Person for Mineral Resource Estimates (Antoine Yassa, P.Geo.).
• Queen's University Pufahl Research GroupcoreImplementation/ SI/ Consulting Partner · 21 September 2022Partnership with Dr. Peir Pufahl's research group at Queen's University to advance the Lac à l'Orignal deposit as a unique source for the LFP battery industry; produced multiple mineralogical and geological studies and peer-reviewed publications.
• Agrinova (Collège d'Alma, Quebec)minorImplementation/ SI/ Consulting Partner · 1 January 2022Agrinova is a college center for transfer of technology (CCTT) associated with Collège d'Alma providing applied research, agronomical expertise, technology transfer and SR&ED tax credit support relevant to First Phosphate's regional activities.
• Laurentia ExplorationcoreImplementation/ SI/ Consulting Partner · 1 January 2022Listed partner for exploration and drilling activities supporting First Phosphate's phosphate properties in Saguenay-Lac-Saint-Jean.
• First Nations DrillingminorImplementation/ SI/ Consulting Partner · 1 January 2022Indigenous drilling-services partner supporting First Phosphate's exploration campaigns.
• Groupe Nutshimit-NippourminorStrategic or Co-development Partner · 1 January 2022Innu-owned consulting firm listed as partner for Indigenous community engagement in the Saguenay-Lac-Saint-Jean and Côte-Nord regions.

Scale indicators17 records

Recent moves11 records

Expansion highlights8 records

Broad incumbents

• Nutrien Ltd. World's largest fertilizer producer and a major global phosphate rock miner with integrated mine-to-MGA capacity. While primarily a sedimentary-rock fertilizer incumbent rather than a battery-materials specialist, Nutrien is the natural reference point for phosphate concentrate and phosphoric acid market pricing.
• The Mosaic Company: One of the world's largest phosphate rock miners, with Florida-based sedimentary deposits and integrated phosphoric acid capacity. Provides pricing and benchmark comparables for global phosphate concentrate markets that First Phosphate will eventually sell into.
• OCP Group: Moroccan state-owned phosphate mining giant controlling the majority of global phosphate rock reserves and a large share of global merchant phosphoric acid supply. Sets global benchmark pricing for phosphate and PPA, against which First Phosphate's high-purity igneous-rock product must compete.
• POSCO Future M: Major Korean LFP and high-nickel cathode active material producer with established scale and customers including Western OEMs. Represents the type of integrated LFP CAM scale player First Phosphate is attempting to compete against in supplying North American gigafactories.
• MP Materials: Largest Western rare earth miner and a publicly listed US critical-minerals champion with active downstream ambitions. Comparable as the archetypal North American critical-minerals equity story (US government backing, IRA tailwinds, integrated upstream-downstream build-out) that First Phosphate aims to emulate in the phosphate-LFP segment.
• Energy Fuels Inc. US-listed critical minerals company traditionally focused on uranium but expanding into rare earth processing. Comparable as a diversified North American critical-minerals processor benefiting from US government policy support and pursuing downstream value-added processing rather than pure mining.

Direct peers

• Arianne Phosphate: Quebec-based developer of the Lac à Paul high-purity igneous phosphate project. Most directly comparable to First Phosphate because of the same geography, same igneous anorthosite host rock, similar pre-FID development stage, and focus on purified phosphate for technical and battery-grade applications. Founded by Bernard Lapointe, who is now an advisor to First Phosphate.
• Nano One Materials: Canadian clean-technology company developing proprietary LFP and other cathode active material production processes, including a one-pot cathode synthesis route. Direct peer in the North American LFP CAM value chain with overlapping customer interest in on-shoring cathode material production away from China.

Emerging players

• Lithium Americas: North American lithium developer (Thacker Pass in Nevada, Cauchari-Olaroz in Argentina) with a similar critical-minerals narrative, multi-government financing engagements (US DOE, Export Development Canada) and a comparable pre-revenue, pre-FID profile. Useful comparable for project financing structure and Western critical-minerals premium.
• Standard Lithium: Lithium extraction technology developer targeting North American battery-grade lithium from brine resources. Comparable as a publicly listed Western critical-minerals developer pursuing integrated upstream-to-battery materials positioning, although lithium-focused rather than phosphate-focused.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/FirstPhosphate
• YouTubeyoutube.com/channel/UCPzIc3oKyrnSfGptwt1ov8Q
• LinkedInlinkedin.com/company/first-phosphate

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Funding overview

Funding rounds11 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First Phosphate