# First Phosphate LFP battery supply chain development > Live situation record from CLSTR: https://clstr.news/situations/first-phosphate-lfp-battery-supply-chain-development > Updated: 2026-07-26T13:29:00.000Z. Sources: 6. Developments: 2. In mid‑July 2026 First Phosphate Corp. closed a $17.7 million private placement, issuing flow‑through shares and hard‑dollar units. The capital is earmarked for expanding a vertically integrated lithium‑iron‑phosphate (LFP) battery supply chain in North America, and the financing follows earlier fundraising rounds announced in May and June. The board also saw changes, with Peter Kent joining as a director and taking a seat on the audit committee. A few weeks later, the company announced that its Bégin‑Lamarche igneous rock phosphate project in Quebec’s Saguenay‑Lac‑Saint‑Jean region received “Filon” accelerated support from the Quebec Ministry of Natural Resources and Forests. The programme speeds permitting for critical mineral projects, and officials highlighted the project's strategic value for on‑shoring high‑purity phosphate needed for LFP cathodes. CEO John Passalacqua linked the support to the company’s financing runway, a forthcoming feasibility study, and a production target of 2029, aligning with broader G7 efforts to diversify LFP supply away from China. ## Timeline ### 2026-07-26: First Phosphate's Bégin-Lamarche Project Gains Quebec Filon Support First Phosphate's Bégin‑Lamarche phosphate project in Quebec received Filon accelerated support, aiming to boost North‑American LFP battery supply; CEO John Passalacqua targets production by 2029. 3 sources. https://clstr.news/cluster/first-phosphates-bgin-lamarche-project-gains-quebec-filon-support ### 2026-07-13: First Phosphate closes $17.7 million private placement, funds LFP battery supply chain First Phosphate closed a US$17.7 million private placement on 10 July 2026, allocating funds to a North American LFP battery supply chain and appointing Peter Kent to its board and audit committee. 4 sources. https://clstr.news/cluster/first-phosphate-closes-177-million-private-placement-funds-lfp-battery-supply-chain --- Cite as: First Phosphate LFP battery supply chain development. CLSTR, https://clstr.news/situations/first-phosphate-lfp-battery-supply-chain-development