Li-Metal issues corporate update and highlights strategic priorities
by CM Staff
The Li-Metal commercial team also secured its first major recurring commercial order for anode materials with a battery developer.
TORONTO — Li-Metal Corp., a developer of lithium metal anode and lithium metal production technologies critical for next-generation batteries, issued a letter from recently appointed CEO, Srini Godavarthy. This outlined the Company’s focus on advancing its vertically integrated business model, growth strategy and roadmap to product commercialization.
“As I reflect on my decision to join Li-Metal, it fills me with pride to know that I chose one of the most innovative enterprises in the battery materials industry. At Li-Metal, we foster an environment where innovation thrives, empowering our employees to develop ground-breaking solutions that will shape the next generation of batteries. I firmly believe that we are one of the few companies that is positioned to build a vertically integrated lithium metal and anode platform. It is a tremendous honour to lead the Company as the CEO, and I commend our founders, Maciej and Tim, for transforming their vision into a recognized and admired supplier of ultra-thin metal anodes within a remarkably short time frame,” the letter read.
To try and position the company for long-term growth, Li-Metal will focus on executing a three-fold execution strategy:
Position Li-Metal as the preferred anode partner to next-gen battery developers and OEMs
The Li-Metal team continues to progress their ultra-thin metal anodes business, further strengthening their technological advantage with their roll-to-roll physical vapor deposition (PVD) process.
Li-Metal says they continue to build relationships with leading battery developers and automakers. Over the past few weeks, the business development team has accelerated these conversations, with the aim of converting these conversations into strategic agreements to secure a robust customer pipeline.
Scale-up its modular metal production and scrap reprocessing process
As they continue to engage with their customers, it has become evident that a sustainable and modular process for producing lithium metal is crucial. Li-Metal says they have been working to advancing a modular technology; an important milestone in this endeavour is the ongoing engineering study, which they are conducting in collaboration with its global engineering partner.
The Company is currently installing and commissioning a pilot scale lithium metal anode scrap reprocessing and casting facility and aims to demonstrate the process at pilot scale.
Strategic partnerships and new customer agreements
A key development for the commercial team was the entering of a non-binding agreement with Mustang Vacuum Systems (MVS), for the exclusive supply of high-performance PVD machines to produce battery materials for next-generation batteries. The partnership supports Li-Metal’s growth strategy for its anode business by securing an experienced machine building partner.
The Li-Metal commercial team also secured its first major recurring commercial order for anode materials with a battery developer. This key commercial agreement generates near-term revenues while providing an additional opportunity to further validate the performance of anode materials.
