A Fully Charged Collaboration

• $139.779M Market Capitalization

E3 Lithium (ETMC.V) announced today that it has created its first successful battery through a collaboration with Pure Lithium. Using lithium produced from E3’s DLE technology, Pure Lithium was able to create lithium metal, which was then used to produce a pouch cell battery. Ultimately, the goal of this testing was to demonstrate the proof of concept.

“Creating the first battery using our lithium is a major accomplishment for E3…This small application proves the functionality of our product and assists in validating our business plans for the future. We believe lithium metal and solid-state batteries are likely to become a large part of the market,” said Chris Doornbos, CEO of E3 Lithium.

For context, E3’s DLE technology refers to the Company’s Direct Lithium Extraction (DLE) system. This system is capable of rapidly reducing large volumes of low-grade brine into high-grade lithium concentrate while also removing almost all impurities, including calcium, magnesium, and sodium. In total, the Company’s system boasts over 90% lithium recovery and more than 99% impurity removal.

As for Pure Lithium, the company manufactures batteries and is credited for developing the first battery-ready pure lithium metal electrode. According to the company, its technology removes 90% of the costs associated with traditional lithium metal foil production. With this in mind, E3 has been working with Pure Lithium to validate the Company’s products and business.

E3’s first phase of production will likely include lithium hydroxide, however, the Company believes lithium metal will become essential for the next generation of lithium batteries. So, why lithium hydroxide first? Lithium hydroxide is commonly used in the production of nickel-rich NCM batteries, which are primarily comprised of nickel, cobalt, and magnesium.

With this in mind, high-nickel cathodes are considered one of the most promising cathode materials for lithium-ion batteries. They are prized for their higher capacity and lower costs when compared to traditional metals such as cobalt. However, the lithium metals market is poised for substantial growth.

The lithium-ion battery metals market, which was valued at $14.5 billion in 2021, is expected to reach $286.085 billion by 2031, expanding at a compound annual growth rate (CAGR) of 34% between 2022 and 2031. This market will be driven by numerous factors, namely an increased demand for lithium-ion batteries for use in Electric Vehicles (EV).

An Energized Duo

Through this collaboration, E3 Lithium provided its lithium concentrate to Pure Lithium. The company then used its proprietary process to produce a pure lithium metal electrode. Pure Lithium then verified the purity via ICP-OES and, subsequently, built a small pouch cell battery. For context, ICP-OES is a technique used to verify the composition of elements using a spectrometer.

“We are excited by these proof-of-concept results…Our collaboration with E3 is very important to us as we work to secure sources of lithium for our future batteries,” said Emilie Bodoin, Founder and CEO of Pure Lithium.

E3 Lithium (ETMC.V) teams up with Imperial Oil (IMO.T) for +40% pop

Having successfully developed its first battery utilizing E3’s lithium concentrate, the Company and Pure Lithium have signed a Memorandum of Understanding (MOU). Through this MOU, the two companies will complete a series of testing over the next six months to define how their technologies can synergize to produce a commercially viable production process.

This production process will be used for both lithium metal electrodes and batteries. E3’s latest news comes shortly after the Company announced a strategic agreement on June 23, 2022, to advance a lithium-extraction pilot in Alberta. For more information related to E3’s agreement with Imperial Oil Limited (IMO.T), check out this article!

E3’s share price opened at $2.45 today, up from a previous close of $2.36. The Company’s shares were up 2.54% and were trading at $2.42 as of 1:18 PM EDT.