E3 Lithium (TSXV:TL) has recently announced that it has secured a C$5 million investment from the Government of Alberta via the Emissions Reduction Alberta Technology Innovation and Emissions Reduction fund.
This funding will be directed towards supporting E3 Lithium’s integrated lithium brine demonstration facility in Alberta. The company is actively working on constructing a demonstration project aimed at producing battery-grade lithium carbonate from locally sourced brines within the province.
As a result of this positive development, shares of E3 Lithium have risen by 6.80 per cent to C$1.10 as of 12:49 pm ET.
CEO of E3 Lithium, Chris Doornbos, expressed optimism about the opportunity to establish a new industry within the province of Alberta. He highlighted that as the company scales its technology, it enhances the prospects for Alberta to emerge as a significant lithium-producing region.
Rebecca Schulz, Minister of Environment and Parks, emphasized the potential for Alberta to become a global leader in lithium production by supporting E3 Lithium in advancing its technology towards commercialization. This initiative is expected to stimulate investment and create employment opportunities in the local market.
The demo project near Olds, Alberta, is designed to purify, concentrate, and chemically convert brine into battery-grade lithium carbonate. It is also geared towards integrating the necessary components into a reduced-scale commercial system.
E3 Lithium is a development company with substantial mineral resources in Alberta and Saskatchewan. Specifically, the company holds 16.2 million tons of lithium carbonate equivalent (LCE) measured and indicated resources in Alberta, along with 0.9 million tons LCE inferred mineral resources. In addition, there are 2.5 million tons LCE inferred mineral resources in Saskatchewan.
Investors interested in learning more about E3 Lithium and engaging in discussions about the company can visit the E3 Lithium Ltd. Bullboard investor discussion forum on Stockhouse’s platform.
It is important to note that the information provided in this article is for informational purposes only and should not be construed as investment advice. For full disclaimer information, please refer to the disclosure link provided in the article.
