Company secures first SDTC funds, sets stage for first-quarter construction
QUEBEC CITY—With funds from Sustainable Development Technology Canada in hand, Nemaska Lithium Inc. is moving forward with plans to start construction on its Phase 1 Lithium Hydroxide Plant in Shawinigan, Que.
The lithium producer and processor, which intends to break into the growing market for lithium batteries, says it has received the first installment of $2.1 million from the federal government’s cleantech investment arm and will start construction on its processing plant shortly. The final hurdle to development is the re-zoning approval process with the City of Shawinigan, which Nemaska said should be completed shortly.
“The agreement with SDTC and the successful re-zoning of the site are significant milestones that will enable us to launch the construction of the Phase 1 Lithium Hydroxide Plant,” Guy Bourassa, the company’s president and CEO, said. “With the official launch of our Phase 1 project, we are looking forward to working with our community partners both locally and regionally.”
SDTC will ultimately contribute $12.87 million in grant money to Nemaska’s plant, which is designed to produce 500 tonnes of high-purity lithium hydroxide per year.
Nemaska expects construction to be completed in the fourth quarter of 2016.