Ontario Funds Li-Metal to Enhance Lithium Metal Production Methods

Ontario [US]: The Government of Ontario has given Li-Metal, a Canadian company that develops Lithium metal and Lithium metal anode technologies for next-generation batteries, over CAD$1.4 million (about 975,000 euros) to further the development and commercialization of its Lithium metal production technology.

The Canadian corporation will amplify its production and refining capacities for battery-grade Lithium metal with the help of the funds, which have been provided by two Ontario government funds. According to Li-Metal, the money will also be used to improve the testing of brand-new Lithium metal goods, like specialty Lithium alloy ingots for batteries of the future.

Lithium alloys, according to Li-Metal, have a lot of promise for increasing cycle life and charging/discharging speeds, which could make them a good choice for a next-generation battery material. The company claims that as it expands its product line, the development of alloy products should improve its capacity to meet the "unique needs" of its expanding customer network.

Srini Godavarthy, CEO of Li-Metal, expressed his happiness at receiving this non-dilutive assistance from the Government of Ontario. Li-Metal is working to establish itself as a domestic provider of Lithium metal for the larger North American market by advancing the commercialization of a proprietary, cleaner, and better Lithium metal production technique. He concluded by saying, we believe these grants further confirm the technology we are commercialising and endorse the role that Li-Metal is positioned to play in developing a supply chain for next-generation batteries.

A grant of CAD$930,826 from the R&D Partnership Fund - Electric Vehicle, managed by the Ontario Vehicle Innovation Network (OVIN), and a grant of CAD$500,000 from the Critical Minerals Innovation Fund (CMIF), sponsored by the Ontario Ministry of Mines, make up the funds given to Li-Metal.

Through investments in the domestic battery supply chain, including battery material manufacture, deep exploration and mining, mineral recovery, and "other innovative projects," the CMIF promotes the development of key minerals. According to Li-Metal, company will employ CMIF funds to expand its Lithium metal production technique, which should help Canada build a supply chain for next-generation batteries.

Ontario is establishing itself as a Canadian automotive powerhouse as well as a source of raw materials. Promoting the growth of cutting-edge automotive technologies in Ontario is the responsibility of OVIN. The R&D Partnership Fund - Electric Vehicle (Stream 1) from IOVIN intends to provide funding for initiatives that focus on creating and showcasing EV and battery manufacturing technology. OVIN regards Li-Metal's production technique and Lithium metal technology as advancing this objective.

To position Ontario as a global leader in the supply of vital minerals, the Ontario government unveiled a vital Minerals Strategy in March 2022. Canada is already in a good position to provide battery raw materials from newly mined and recovered resources to the car industry. For instance, Volkswagen and Mercedes Benz signed contracts with the Canadian government in August of last year to gain access to vital battery raw materials like Lithium, Nickel, and Cobalt. In a joint statement, Mercedes-Benz and Volkswagen stated that letters of intent were signed in Toronto with the participation of Canadian Prime Minister Justin Trudeau and German Chancellor Olaf Scholz.

A little more than a year ago, Li-Metal launched a joint anode production facility and inked a development and marketing agreement for battery anodes with Bollore subsidiary Blue Solutions.