Lithium Australia has secured A$18.27 million backing to advance its large-scale SiLeach pilot plant and to re-commission its lithium-ion battery cathode plant.
Funding was made available by Arena Investors, a US-based institutional investor with more than US$750 million (A$966.5 million) in assets under management.
Lithium Australia is working to “close the loop” on the energy-metal cycle.
Its disruptive extraction processes are designed to convert all lithium silicates to lithium chemicals, from which advanced components for the battery industry can be created.
By uniting resources and the best available technology, the company is seeking to establish a vertically integrated lithium processing business.
“Lithium Australia has previously announced its intention to proceed with the large scale Sileach pilot plant program, and its intention to recommission the Very Small Particle Company cathode pilot plant,” said Adrian Griffin, the company’s managing director.
“The Arena facility is a major element of the funding package required for these endeavours to be successfully implemented.”