E3 Lithium Ltd (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF) announces a strong financial start to 2024, supported by an accumulation of over $32M CAD in non-dilutive grant funding and investments. The Alberta-based lithium developer remains at the forefront of lithium extraction technology, declaring its ready stance to deliver on upcoming projects.
E3 Lithium Secures Significant Funding for Lithium Development
E3 Lithium has received notable support through government grants and investments, affirming its lead in lithium development. Alberta Innovates has contributed to refining the company’s Direct Lithium Extraction (DLE) technology, backing its 2023 field pilot plant with $1.8M in grants. With an expectation to obtain the final installment early this year, E3 Lithium showcases the viability of its advancements.
Strategic Support and Financial Snapshot
The company’s collaboration with Innovation, Science and Economic Development Canada’s Strategic Innovation Fund catalyzed a $27M investment for broad-ranging company initiatives, while Natural Resources Canada’s CMRDD program furnished an additional grant for pilot plant operations. Alberta Jobs Now has further subsidized the company’s workforce expansion.
Encouraged by this support, E3 Lithium disclosed a robust financial position with $37.9M in cash working capital as of Q3 2023, reiterating its leadership in the North American lithium market.
About E3 Lithium
The company boasts significant lithium resources within Alberta and is poised to produce high-grade lithium influenced by a sound financial basis and strategic initiatives. With a record of substantial investment and proven reserves, E3 Lithium aims to fulfill the escalating demand for battery-grade lithium.
E3 Lithium – Investor and Media Relations
Director, Investor Relations and Corporate Communications
The content presented on this page has not been manually verified by our team. While we strive to ensure accuracy, we cannot guarantee the validity, completeness, or timeliness of the information provided. Always consult with appropriate professionals or sources before making any decisions based on this content.
The image is randomly selected and doesn’t necessarily represent the company or the news below.