Li-Metal receives $1.4M in grant funding from Ont. government
by CM Staff
Li-Metal will use the funds from OVIN to support scale-up of its production and refining capabilities for battery-grade lithium metal.
Li-Metal receives $1.4M in grant funding from Ont. government
TORONTO — Li-Metal Corp., a developer of lithium metal and lithium metal anode technologies critical for next-generation batteries, announced that it has been awarded over CAD$1.4 million in grant funding from various programs sponsored by the Government of Ontario to develop and commercialize its lithium metal production technology. The funding consists of a CAD$930,826 grant from the R&D Partnership Fund – Electric Vehicle, administered by the Ontario Vehicle Innovation Network and a CAD$500,000 grant from the Critical Minerals Innovation Fund, funded by the Ontario Ministry of Mines.
Li-Metal will use the funds from OVIN to support scale-up of its production and refining capabilities for battery-grade lithium metal. In addition, the Company will use the funds to advance the piloting of new lithium metal products, such as specialty lithium alloy ingots for next-generation batteries. Lithium alloys have the potential to improve cycle life and charging / discharging rates, and thus offers tremendous potential as a next-generation battery material.
“We are pleased to have been awarded this non-dilutive funding from the Government of Ontario,” said Srini Godavarthy, CEO of Li-Metal. “Li-Metal continues to advance the commercialization of a patented, cleaner and improved lithium metal production technology to establish ourselves as a domestic supplier of lithium metal for the broader North American market. We believe these grants further validate the technology we are commercializing and endorse the role that Li-Metal is poised to play in building a next-generation battery supply chain.”
OVIN is focused on promoting the development of advanced automotive technologies in Ontario, supporting the province’s role as an automotive hub within Canada.
The CMIF backs the Critical Minerals Strategy launched by the Government of Ontario in March 2022 to position Ontario as a global leader in supplying critical minerals needed to support the clean energy transition. Specifically, CMIF will support critical minerals development through investments in the domestic battery supply chain, including battery materials production, deep exploration and mining, recovery of minerals and other innovative projects. Li-Metal will use funds from the CMIF to advance its lithium metal production technology to help support the development of a next-generation battery supply chain in Canada.
Li-Metal recently announced first lithium metal production at its Markham, Ontario pilot facility and is progressing towards its goal of demonstrating continuous lithium metal production. In parallel, Li-Metal is working closely with the Company’s global engineering partner to advance an engineering study for a commercial-scale lithium metal facility.
