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Lithium Australia NL ( (AU:LIT) ) has provided an update.
Livium Ltd announced that its subsidiary VSPC secured up to A$30 million in grant funding from the Australian Renewable Energy Agency (ARENA) for an LFP demonstration plant in Australia. This plant aims to advance product qualification and secure offtake contracts as a precursor to commercial scaling. The initiative is part of Livium’s strategy to develop LFP supply chains outside of China and position Australia as a leader in cathode powder technology, potentially generating significant revenues and contributing to global battery manufacturing supply chains.
More about Lithium Australia NL
Livium Ltd, formerly known as Lithium Australia, is focused on sustainable lithium production and operates Australia’s leading battery recycling business. The company is engaged in producing critical battery materials, specifically lithium ferro phosphate (LFP), and has developed patented lithium extraction technology called LieNA®. Livium aims to capitalize on the increasing global demand for lithium-ion batteries and diversify global supply chains with its revenue-generating recycling business and technologies.
Average Trading Volume: 27,622
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $11.97M
For an in-depth examination of LIT stock, go to TipRanks’ Stock Analysis page.