- E3 Lithium (TSXV:ETL) has received the final payment from its Alberta Innovates grant, which was first awarded in 2021
- This C$375,000 payment was part of a larger C$1.8 million non-repayable grant that facilitated the scale-up of its direct lithium extraction technology from lab prototype to field pilot plant
- Since the field pilot plant began, the company has been focusing on completing advanced engineering studies, progressing its consultation and permitting programs along with continuing discussions with offtake customers
- E3 Lithium opened trading at C$1.49 per share
E3 Lithium (TSXV:ETL) has received the final payment from its Alberta Innovates grant, which was first awarded in 2021.
This C$375,000 payment was part of a larger C$1.8 million non-repayable grant that facilitated the scale up of its direct lithium extraction (DLE) technology from lab prototype to field pilot plant.
The final payment was awarded based on the success of the company’s 2023 field pilot plant, which had exceeded all key performance indicators.
Since the field pilot plant began, the company has been focusing on completing advanced engineering studies, progressing its consultation and permitting programs and continuing discussions with offtake customers.
“The funding we received from Alberta Innovates was instrumental in enabling E3 Lithium to demonstrate DLE at pilot scale, supporting the development of our lithium asset in Alberta towards commercialization,” Chris Doornbos, the company’s president and CEO said in a news release. “We are very excited about the next steps for E3 Lithium with the hard work of demonstrating and selecting technology now complete.”
“Alberta Innovates advances clean resource technologies to grow and diversify industries in the province and protect the environment. E3’s direct lithium extraction technology is part of that development pathway,” Alberta Innovates CEO Laura Kilcrease added. “This milestone is an important step for the company as well as demonstrating the value of our innovation ecosystem overall.”
As it advances towards commercial construction and operation of the plant, E3 Lithium intends to produce battery-grade lithium products through high-recovery direct extraction technology to support global electrification. The company is developing an Alberta-based resource of 16 million tonnes of lithium carbonate equivalent measured and indicated and 0.9 million tonnes inferred.
E3 Lithium (TSXV:ETL) opened trading at C$1.49 per share. The stock is down by 45.02 per cent year-over-year, but has gained 238.64 per cent since 2019.
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