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Li-Metal to receive $1.9M in project to advance lithium metal solid-state batteries

TORONTO — Li-Metal Corp., a developer of lithium metal anode and lithium metal technologies critical for next-generation batteries, announces that it has been granted CAD$1.9 million, as part of a CAD$5.1 million joint project with Blue Solutions, awarded by Next Generation Manufacturing Canada (NGen), an industry-led organization supporting advanced manufacturing in Canada, to develop the Company’s lithium metal anode technologies.

“If we want to win business in the globally competitive EV market, Canada must invest in world-leading advanced manufacturing capabilities, in the cleanest, most cutting-edge technologies and processes,” said Jayson Myers, CEO, NGen. “That’s why NGen has co-invested with Li-Metal and Blue Solutions in game-changing technologies that will sustainably drive the next generation of EV batteries, resulting in cleaner, more efficient electric vehicles and driving new investment and employment opportunities for businesses across Canada.

“We are excited to receive NGen’s support as we continue to advance the development of lithium metal and anode technology,” stated Maciej Jastrzebski, co-founder and CEO. “Ultimately, this grant will help our mission to secure a more sustainable battery materials supply chain for North American next-generation battery makers, significantly advancing Li-Metal’s progress to automotive-grade commercial production.”

Through its previously announced joint development and commercialization agreement, Li-Metal will work with Blue Solution to advance the development, and test the performance of, the Company’s lithium metal anodes for the automotive market. The proceeds of the Grant will be used to support the commercialization of technologies for reprocessing of lithium metal and production of ultra-thin high-performance low-cost lithium metal anodes. This will enable Li-Metal to supply battery materials and components needed for product qualification – a key step before next-generation batteries can be used in electric vehicles.