Start-up Vulcan said on Tuesday that it had been granted 104 million euros ($122 million) in grants by the German government for the production of clean lithium for battery cell production.
The grants, which have been issued by the federal government and the states of Rhineland-Palatinate and Hesse, will go towards a project “designed to assist with building Germany’s and Europe’s critical raw materials supply chain resilience.”
The funding will be disbursed from October 1 over the course of 36 months, the company said.
($1 = 0.8548 euros)
(Writing by Friederike HeineEditing by Madeline Chambers)
