E3 Lithium Ltd, a leading Canadian lithium development company, has received a significant boost in its efforts to commercialize its Clearwater Lithium Project. The company announced on March 3 that it has been conditionally approved for up to $4.7 million in non-repayable funding from the Government of Canada’s Critical Minerals Infrastructure Fund (CMIF).

The $4.7 million investment will be reimbursed at 50% of eligible costs, with the final agreement expected to be executed within a few months. Notably, E3 Lithium can apply for eligible expenses incurred as of October 2024, which may include work on the Demonstration Facility Project detailed in its 2025 Project Update.

The CMIF, a federal initiative designed to provide up to $1.5 billion by 2030, aims to support the development of clean energy and transportation infrastructure necessary for the sustainable growth of Canada's critical minerals sector. E3 Lithium’s successful application highlights the Clearwater Project's potential to contribute significantly to this national objective.

The allocated funds will be used for pre-construction activities focused on developing essential transportation and energy infrastructure for the Clearwater Project. This includes conducting detailed studies to assess transportation upgrades that can accommodate industrial traffic, as well as exploring innovative energy solutions to optimize lithium production from brine. The company will also investigate the use of internal recycle streams and raw brine as sources for process water, aiming to enhance the project's environmental sustainability.

"Developing Canada’s abundant critical minerals drives economic opportunity and creates good jobs," stated the Jonathan Wilkinson, Minister of Energy and Natural Resources. "Developments like this help mines get built faster, and they are a key element in seizing the generational opportunity before us. The funding provided to E3 Lithium Ltd., will help advance the development of the necessary infrastructure to expand Alberta’s sustainable critical minerals production. E3 Lithium Ltd., and many other businesses in Alberta know that moving forward, economic development and environmental sustainability must go hand in hand.”

This funding marks another significant milestone for E3 Lithium, which has secured approximately $37.5 million in non-dilutive funding since 2017, excluding the CMIF investment. This financial stability, achieved without diluting shareholder equity, positions the company strongly as it advances the Clearwater Project towards its goal of first lithium production in Alberta.

E3 Lithium boasts substantial lithium resources in Alberta and Saskatchewan, with 16.2 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated resources in Alberta, along with Inferred resources. The Clearwater Pre-Feasibility Study highlights a proven and probable mineral reserve of 1.13 million tonnes LCE.