News ReleaseFast-Charging Lithium Batteries Could Send EV Adoption into High Gear
MarketJar
As the electric vehicle market continues gaining momentum, one innovation could quicken mainstream adoption: fast-charging lithium-ion batteries. Lithium batteries, which are used in everything from smartphones and tablets to ebikes and electric vehicles (EVs), are continuously being upgraded to improve safety and efficiency. When it comes to EVs, consumers want batteries that charge quickly and provide range. Fortunately, a new discovery at the University of Liverpool could completely transform lithium-ion batteries and make charging significantly faster than ever before. Researchers at the University of Liverpool just revealed a solid-state material capable of conducting lithium ions at unprecedented speeds. Consisting of non-toxic earth elements, this new material could replace the liquid electrolytes found in today's lithium-ion batteries, improving safety, energy capacity and charging time. 1 This discovery was achieved by employing a unique blend of AI, physics-based calculations, and expert chemistry knowledge to identify and synthesize the material. This approach not only accelerated the research process but also ensured that the material's properties were optimized for real-world application. Another barrier preventing mainstream EV adoption is cost, with many consumers waiting for more affordable electric options to come to market. Although prices for new electric vehicles have dropped significantly in recent months, low lithium prices and a lack of spending on new projects are setting the stage for another supply crunch. 2 Luckily, Canadian lithium company E3 Lithium (TSXV:ETL) (FSE:OW3) (OTCQX:EEMMF) is swiftly advancing its Clearwater Project towards commercial operations using Direct Lithium Extraction (DLE) technology to produce high-purity, battery-grade lithium. A Key Player in the Lithium Sector With a Strong Financial Position After achieving notable milestones in 2023, including upgrading its resource to 16.0 million tonnes of LCE, successfully demonstrating the commercial viability of its DLE technology and producing high-purity battery-grade lithium hydroxide, E3 Lithium (TSXV:ETL) (FSE:OW3) (OTCQX:EEMMF) is gearing up for a significant year of expansion in 2024. Key goals for E3 Lithium in 2024 include advancing the Clearwater Project towards commercial operations, with milestones such as progressing engineering studies, advancing commercial permitting, as well as completing a Pre-Feasibility Study (PFS) and releasing the NI 43-101 report. The PFS will provide detailed insights into the design of the first commercial facility and result in the booking of reserves, a significant milestone for Canadian lithium brines. E3 Lithium (TSXV:ETL) (FSE:OW3) (OTCQX:EEMMF) is well-funded to reach its projected milestones this year thanks to ongoing support and strategic partnerships. On April 2, the company announced the final $375,000 of a $1.8 million grant awarded by Alberta Innovates in 2021. Through the support of Alberta Innovates, E3 Lithium has successfully de-risked the commercial viability of its brines and has selected a DLE and flowsheet for its first commercial facility that outlines the most viable path to commercial operations. E3 Lithium also previously secured a C$3.5 million grant from Natural Resources Canada and raised close to C$30 million through oversubscribed fundraises. With enough resources to produce approximately 150,000 tonnes of battery-grade lithium per year once fully operational across multiple commercial facilities, E3 Lithium is well-positioned to play a key role in supporting the growing demand for lithium in the electric vehicle industry. Please visit this link or their website at e3lithium.ca for more information about E3 Lithium Ltd (TSXV:ETL) (OTCQX:EEMMF). Footnotes: [1] https://scitechdaily.com/new-li-ion-conductor-discovered-the-novel-material-could-supercharge-electric-vehicle-batteries/ [2] https://oilprice.com/Energy/Energy-General/Unsustainably-Low-Lithium-Prices-Set-the-Stage-for-the-Next-Supply-Crunch.html Disclosure: 1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies outlined in this Article. 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April 02, 2024 02:58 PM Eastern Daylight Time
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