E3 Lithium Advances European Market Strategy Through Collaboration Agreement with Tees Valley Lithium
Non-binding agreement secures E3 strategic optionality and market access for lithium hydroxide into Europe, with E3’s focus remaining firmly on lithium carbonate for the Clearwater Project
CALGARY, Alberta–(BUSINESS WIRE)–E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), “E3”, “E3 Lithium” or the “Company,” a leader in Canadian lithium development, is pleased to announce that it has entered into a non-binding Collaboration Agreement (the “Agreement”) with Tees Valley Lithium Ltd. (“TVL”), a wholly owned subsidiary of Alkemy Capital Investments plc (LSE: ALK). The Agreement establishes a framework that creates optionality for E3 to convert its lithium carbonate into lithium hydroxide and further support offtake relationships in the European market.
Under the proposed non-binding Agreement, E3 would utilize TVL’s lithium hydroxide conversion capacity at its UK refinery to convert lithium carbonate produced at E3’s Clearwater Project into battery-grade lithium hydroxide for supply to E3’s potential customers. The Agreement contemplates up to 50,000 tonnes of lithium hydroxide over an initial 10-year term.
The Agreement is non-binding in all respects and there is no guarantee that E3 will enter into a definitive agreement with TVL, or that E3 will utilize TVL’s conversion capacity. Any future arrangement remains subject to the terms of a potential offtake agreement with a third-party customer and finalizing the terms and execution of a binding definitive agreement with TVL.
Chris Doornbos, CEO and Chair of E3 Lithium, said:
This Collaboration Agreement gives E3 meaningful optionality as we negotiate with potential offtake partners,
“This framework provides a potential pathway to serve hydroxide demand while we continue to focus on our speed to market and enhanced capital efficiencies for our carbonate production. We look forward to our ongoing collaboration with TVL.”
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E3 Lithium Advances European Market Strategy Through Collaboration Agreement with Tees Valley Lithium, source
