LiTHOS Announces Submission of $30 Million Follow-on Grant to the US Department of Energy
- None.
- None.
- Grant application received written support from
U.S. Senator Katie Britt, US Senator Tommy Tuberville,U.S. Congresswoman Terri A. Sewell, US Congressman Gary Palmer, Alabama Mobility and Power Center, The University ofAlabama , and theCity of Bessemer , Economic and Community Development Department. - Grant proposes to upgrade the 55,000 sq ft
Bessemer complex capacity to produce pilot scale polished and purified battery-grade lithium hydroxide and create hundreds of new jobs for the local community. - Facility is strategically located next to Mercedes-Benz US International, Inc., Honda Manufacturing of
Alabama , LLC and Hyundai Motor Manufacturing Alabama, LLC. TheAlabama site is Hyundai's firstU.S. manufacturing plant and ranks as the state's third-largest industrial employer tied with Mercedes-Benz.
Our mission is to become the global standard in economically efficient, sustainable lithium production. LiTHOS' patent-pending AcQUA™ technology eliminates the need for evaporation ponds - an environmentally damaging and water-intensive step in the lithium extraction process. AcQUA™ technology helps resource owners unlock higher yields more quickly from continental brine lithium resources at a substantially lower cost.
Lithium is now among one of the world's most in-demand metals due to aggressive ambitious electrification efforts to limit CO2 emissions. This global demand is underpinned by the adoption of EV's and the installation of hundreds of gigawatts of intermittent solar power generation capacity requiring partial battery storage solutions.
The Company previously disclosed its pre-qualified status in September 2023 and has now finalized its application for up to USD
"We are excited to extend and expand our relationship with the US Department of Energy and use this additional grant funding to accelerate pilot scale production of Lithium hydroxide from the
The Company's mission is to deliver sustainable lithium production without the use of evaporation ponds. AcQUA™ is LiTHOS' patent-pending technology that spans the complete value chain from the conditioning and pre-treatment of raw brines through the DLE phase into the polishing and purification of battery grade lithium feedstock. LiTHOS has two fully operational processing facilities: a 4,000 sq ft lab in
Connect with LiTHOS: Website | Email | LinkedIn
ON BEHALF OF THE BOARD
Scott
Forward-Looking Statements: This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian legislation. All statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, the Company's market position in the industry of sustainable lithium production and increase in the capacity of the Company's facilities. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company's facilities will be able to handle the increased demand. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, but are not limited to, the failure of the Company's facilities to handle increased demand and the potential that that Company's market position does not increase as expected. Further, the ongoing labour shortages, inflationary pressures, rising interest rates, the global financial climate and the conflict in
View original content to download multimedia:https://www.prnewswire.com/news-releases/lithos-announces-submission-of-30-million-follow-on-grant-to-the-us-department-of-energy-302046271.html
SOURCE Lithos Group
FAQ
What is the purpose of LiTHOS Group Ltd.'s $30 million grant application to the US Department of Energy?
What technology does LiTHOS Group Ltd. use for lithium extraction?
Who supported LiTHOS Group Ltd.'s grant application to the US Department of Energy?
What is the significance of the Bessemer, Alabama location for the lithium production facility?