TORONTO, ON / ACCESSWIRE / October 24, 2023 / Li-Metal Corp. (CSE:LIM)(OTCQB:LIMFF)(FSE:5ZO) ("Li-Metal" or the "Company"), a developer of lithium metal anode and lithium metal production technologies critical for next-generation batteries, today announced its patented lithium metal technology has been named one of TIME's Best Inventions of 2023. The annual list features 200 extraordinary innovations changing how people live and think about what is possible.
Lithium metal is a strategic material critical in the production of metal anodes, which are integral to next-generation lithium batteries. Li-Metal's carbonate-to-metal (C2M) technology is expected to play an increasingly important role in the development of the North American lithium metal supply chain. The Company's C2M technology addresses the need for an environmentally friendly and sustainable process for lithium metal production capacity, as demand is expected to increase by 10 fold by 2030 to more than 40,000 tonnes, according to McKinsey. The ability to produce lithium metal is a key differentiator for Li-Metal as a battery anode supplier as it further enables the growth and development of its anode business by securing a reliable feedstock.
Traditionally, lithium metal has been produced using lithium chloride as feedstock, which generates approximately five tonnes of harmful chlorine gas by-product for every tonne of lithium metal produced. Lithium chloride is typically made by treating lithium carbonate; however, Li-Metal's patented C2M, modular lithium metal technology can eliminate this costly conversion step, which is detrimental to the environment, by producing metal directly from lithium carbonate. In May, 2023, Li-Metal likely became the first company in the world to successfully produce lithium metal directly from lithium carbonate at its pilot plant in Markham, Ontario. Ultra-thin, high-performance anode materials are critical for the development of North America's next-generation battery supply chain, and securing a supply of lithium metal using environmentally friendly production processes is expected to accelerate the growth of the lithium metal anode market.
"Li-Metal is thrilled to be recognized by TIME as we continue to innovate and work at the forefront of battery technology," said Maciej Jastrzebski, CTO and co-founder of Li-Metal. "This award serves as a strong testament to the work that our team of engineers have accomplished and the importance of our novel lithium metal technology, as we achieved a key metallurgical and scientific breakthrough earlier this year. We believe we are just getting started and look forward to supporting a more sustainable domestic next-generation battery supply chain as the leading vertical integrated anode supplier."
Li-Metal's lithium metal technology was recognized in the Experimental category in TIME's Best Inventions of 2023. To compile the list, TIME solicited nominations from TIME's editors and correspondents around the world, and through an online application process, paying special attention to growing fields-such as AI, green energy, and sustainability. TIME then evaluated each contender on a number of key factors, including originality, efficacy, ambition, and impact.
Of the new list, TIME's editors write: "The result is a list of 200 groundbreaking inventions (and 50 special mention inventions)-including the world's most powerful supercomputer, a game-changing entertainment venue, and a new shape-that are changing how we live, work, play, and think about what's possible."
To see the article about Li-Metal's lithium metal technology in TIME please visit: https://time.com/collection/best-inventions-2023/6324126/li-metal-lithium-metal-production-process/. To see the full list visit: time.com/best-inventions-2023
ON BEHALF OF THE BOARD
Srini Godavarthy
Chief Executive Officer
About Li-Metal Corp.
Li-Metal is a Canadian-based vertically integrated battery materials company and innovator commercializing technologies to enable next-generation batteries for electric vehicles and other applications. We believe our patented lithium metal technology, next-generation battery anode technology and production methods are significantly more sustainable than existing solutions and offer lighter, more energy-dense and safer batteries. Li-Metal's battery materials support battery developers' ability to power more cost-effective electric vehicles that go farther and unlock the future of transportation. For more information, visit: www.li-metal.com.
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the Company. Any such forward-looking statements may be identified by words such as "expects", "anticipates", "believes", "projects", "plans" and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. Statements about, among other things, the Company's strategic plans are forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the development of the business of the Company will be completed as described above. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.
Li-Metal Investor Contact:
Salisha Ilyas
ir@li-metal.com
Tel: +1 647 494 4887
Li-Metal Media Contact:
Harry Nicholas
Li-MetalPR@icrinc.com
SOURCE: Li-Metal Corp.
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