Li-Metal Corp. (CSE: LIM | OTCQB: LIMFF |FSE:5ZO) has announced it has been awarded over C$1.4M in grant funding from two programmes sponsored by the Government of Ontario to develop and commercialize its lithium metal production technology.
The company is a developer of lithium metal and lithium metal anode technologies critical for next-generation batteries.
The funding consists of a C$930,826 grant from the R&D partnership fund – Electric Vehicle, administered by the Ontario Vehicle Innovation Network (OVIN), and a C$500,000 grant from the Critical Minerals Innovation Fund (CMIF), funded by the Ontario ministry of mines.
Li-Metal will use the funds from OVIN to support scale-up of its production and refining capabilities for battery-grade lithium metal. In addition, the company will use the funds to advance the piloting of new lithium metal products, such as specialty lithium alloy ingots for next-generation batteries.
As Li-Metal continues to build out its product portfolio, the development of alloy products will further enhance the company’s ability to support the unique needs of its growing customer network.
Srini Godavarthy, CEO of Li-Metal said, “Li-Metal continues to advance the commercialization of a patented, cleaner, and improved lithium metal production technology to establish ourselves as a domestic supplier of lithium metal for the broader North American market. We believe these grants further validate the technology we are commercializing and endorse the role that Li-Metal is poised to play in building a next-generation battery supply chain.”
OVIN is focused on promoting the development of advanced automotive technologies in Ontario, supporting the province’s role as an automotive hub within Canada. OVIN’s R&D partnership fund seeks to support projects related to the development and demonstration of technologies in EVs and battery manufacturing technologies, such as Li-Metal’s lithium metal technology and production process.
The CMIF backs the critical minerals strategy launched by the Government of Ontario in March 2022 to position Ontario as a global leader in supplying critical minerals needed to support the clean energy transition.
Specifically, CMIF will support critical minerals development through investments in the domestic battery supply chain, including battery materials production, deep exploration and mining, recovery of minerals, and other innovative projects. Li-Metal will use funds from the CMIF to advance its lithium metal production technology to help support the development of a next-generation battery supply chain in Canada.
To find out more, please visit www.li-metal.com
