{"id":19657,"date":"2022-11-29T18:08:23","date_gmt":"2022-11-29T18:08:23","guid":{"rendered":"https:\/\/mailinvest.blog\/index.php\/2022\/11\/29\/albertas-e3-lithium-gets-27-million-in-government-support\/"},"modified":"2022-11-29T18:08:23","modified_gmt":"2022-11-29T18:08:23","slug":"albertas-e3-lithium-gets-27-million-in-government-support","status":"publish","type":"post","link":"https:\/\/mailinvest.blog\/index.php\/2022\/11\/29\/albertas-e3-lithium-gets-27-million-in-government-support\/","title":{"rendered":"Alberta’s E3 Lithium gets $27 million in government support"},"content":{"rendered":"

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The Government of Canada has announced a new $27 million strategic investment in Calgary-based E3 Lithium that aims to create more jobs for Canadians, reduce greenhouse gas emissions and achieve net zero by 2050.<\/p>\n

E3 Lithium has developed a technology that allows it to extract lithium from oilfield brines. The extracted lithium is then refined into lithium hydroxide, which is used in lithium-ion batteries that power electric vehicles (EVs).<\/p>\n

The investment in E3 Lithium will help create battery-grade lithium in Canada and add to the domestic EV battery supply chain, essentially aiding in the country\u2019s transition to an electric and net zero emission sector.<\/p>\n

\u201cThis investment will support E3 Lithium\u2019s $87 million project for the construction of a demonstration plant specializing in lithium production,\u201d wrote the government in a media release.<\/a> \u201cThis 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. 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.\u201d<\/p>\n

Lithium demand is expected to increase by 500 percent by 2050 due to growing demand in an increasingly electric society.<\/p>\n

E3\u2019s Preseidnet and CEO Chris Doornbos has this to say about the investment:<\/p>\n

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\u201cThe breadth of the development costs this funding covers contributes significantly to the de-risking of our end-to-end project development as we progress towards a commercial facility producing battery-grade lithium in Alberta. The Canadian government has committed to supporting the critical minerals supply chain. Growing local Canadian supply begins with the raw materials, and Alberta has a significant part to play in that future.\u201d<\/em><\/p>\n<\/blockquote>\n

As shared by CTV News<\/em><\/a>, E3 has already drill-tested wells at Alberta\u2019s Leduc oilfield region and aims to have a field pilot project up and running by next year. Imperial Oil has also made a strategic investment in E3 Lithium.<\/p>\n

Image credit: E3 Lithium<\/a><\/em><\/p>\n

Source: Government of Canada<\/a><\/p>\n<\/p><\/div>\n