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Lithium Australia building a battery bastion

31 August 2022 10:32
ASX: LIT
LIT VSPC

Lithium Australia is commercialising its wholly-owned battery subsidiaries and have made a placement exceeding $12 million to forge up both Envirostream and VSPC for a rapidly growing market.

It moves the company further towards completing a full battery loop — with assets in raw materials, chemical recovery, manufacture, and recycling of the mighty lithium-ion battery.

The Envirostream facility stands at the edge of the battery recycling frontier, with support from a government-backed scheme and partnerships including Bunnings, Officeworks and Battery World providing the platform for national expansion.

And VSPC see a clear path to production, with patents covering advanced powders for next-gen lithium ferro phosphate batteries — it being one of the few entities outside of China capable of manufacturing at high enough quality to meet demand.

The developed companies look to move in sync with other assets, including proprietary tech for improving lithium recoveries and investments in battery metal exploration with Charger Metals, Galan Lithium and BlackEarth Minerals.

The company said support was strong from both existing and new shareholders for the placement.

“This funding puts us in a strong position to continue to progress our core opportunities of battery recycling and advanced cathode materials,” chairman George Bauk said.

LIT’s Australian Stock Exchange-listed share price was trading at 7.7c today (10.15 am UTC+ 8 hours).

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