Alberta-focused lithium developer E3 Metals receives $1.8M government grant
(Kitco News) - E3 Metals (TSXV: ETMC), an emerging lithium developer and leading direct lithium extraction ("DLE") technology innovator, today announced the receipt of a government grant totaling $1.8M from Alberta Innovates that will assist in funding E3 Metals' pilot plant.
The company said it has developed a proprietary DLE technology that seamlessly connects conventional oilfield and lithium processing, unlocking Alberta's previously untapped lithium resources.
The funding provided by Alberta Innovates is to support the demonstration E3 Metals' DLE technology by progressively scaling it up from the lab prototype to a field pilot. The first step will be a prototype operating within E3 Metals' Calgary lab, and then a field pilot operating continuously on a site within E3 Metals' resource area in Alberta.
By demonstrating the process at a pilot scale over numerous months, the company plans to significantly de-risk its Alberta lithium project prior to scaling up to the anticipated commercial scale of 20,000 tonnes/year lithium hydroxide monohydrate.
E3 Metals is a lithium development company with 7.0 million tonnes of lithium carbonate equivalent inferred mineral resources in Alberta and an NPV8% on its Clearwater lithium project of USD 1.1 Billion with a 32% IRR pre-tax and USD 820 Million with a 27% IRR after-tax.