Lithium demand is projected to increase by 500% by 2050 as electric vehicles take over the market. PHOTO courtesy General Motors.
François-Philippe Champagne, Minister of Innovation, Science and Industry has announced a $27 million contribution to Alberta’s E3 Lithium Ltd. to help create battery-grade lithium in Canada for the domestic EV battery supply chain.
The government contribution will be made through the Strategic Innovation Fund’s Net Zero Accelerator initiative. This investment will support E3 Lithium’s $87 million project for the construction of a demonstration plant specializing in lithium production. This facility will be the first step toward a full-scale lithium production plant that will produce up to 20,000 tonnes of battery-grade lithium.
Lithium demand is projected to increase 500% by 2050 due to the growing domestic battery manufacturing and future-oriented transportation.
“This will enable the development of a sustainable, long-term source of lithium supply, which is critical to building electric vehicles and an anchor in the North American supply chain,” Champagne said in a release. “Canada has everything it needs to build the EVs and batteries that consumers are demanding, and Alberta is key to building that ecosystem and accelerating the low-carbon economy. E3 Lithium’s groundbreaking technology will play an important role in providing large quantities of battery-grade lithium to the auto industry.”
Chris Doornbos, President and CEO, E3 Lithium Ltd said the breadth of the development costs this funding covers contributes significantly to the de-risking of the end-to-end project development as his company works towards a commercial facility producing battery-grade lithium in Alberta.
Headquartered in Calgary, Alberta, E3 Lithium Ltd.’s proprietary lithium extraction technology reduces large volumes of brine into a high-grade lithium concentrate in one step to allow for further refining into lithium hydroxide, which is used in lithium-ion batteries.
The Strategic Innovation Fund’s Net Zero Accelerator initiative supports investments that establish Canada as a global clean technology leader, enabling decarbonization and industrial transformation while capitalizing on new growth opportunities in Canada and in international markets.