Dr. Srini Godavarthy reports

LI-METAL PRODUCES LITHIUM METAL INGOTS USING REPROCESSING TECHNOLOGY

Li-Metal Corp. has successfully produced and shipped its first batch of lithium metal ingots. The lithium metal ingots were produced at Li-Metal's recently commissioned lithium metal reprocessing and casting facility in Markham, Ont., which has the capacity to process up to 15 metric tonnes of anode scrap material per year.

Lithium metal anodes are produced either through a conventional extrusion/rolling or through more economically viable physical vapour deposition (PVD) processes, the commercialization of which Li-Metal is championing in conjunction with its exclusive manufacturing partner, Mustang Vacuum Systems. Traditional extrusion processes require the lithium metal to be supplied in ingot form. On average, production scrap generated by gigafactories can have up to a 30-per-cent metal scrap rate. Lithium metal ingot manufacturing scraps are currently designated as hazardous waste and, typically, incinerated whereby valuable, critical battery materials are lost forever.

To enhance the sustainability of lithium metal anodes and to overcome the need to incinerate scrap lithium metal, Li-Metal developed a novel reprocessing and casting technology. The company's technology reprocesses the scrap lithium into ingots that may be used for anode production. The lithium metal ingot, a large solid block of metal, was produced using lithium material from production scrap from lithium foil producers. As Li-Metal continues to progress with its lithium metal reprocessing program and demonstrating the continuous production of lithium metal ingots, the company is currently evaluating scrap samples from multiple partners to scale capacity. Li-Metal expects to eventually leverage the pilot facility and know-how generated during the scale-up of the reprocessing facility to help its potential partners produce high-purity specialty lithium-alloy ingots for advanced battery producers.

"We are thrilled to produce our first batch of lithium metal ingots using our reprocessing and casting technology and commission our new facility in Markham," said Srini Godavarthy, chief executive officer of Li-Metal. "The ability to produce lithium metal products is a key differentiator for Li-Metal's positioning in the next-generation battery ecosystem, further enabling the growth and development of our business. This is an important milestone in our road map as we advance our technologies and plan to become a leading vertically integrated and domestic supplier of lithium metal and high-performance anode materials."

Earlier this year, Li-Metal successfully produced its first lithium metal product using its patented carbonate to metal (C2M) technology at its lithium metal pilot facility in Markham, Ont. Li-Metal's C2M technology was named one of Time's best inventions of 2023. The company's C2M technology is designed to produce high-quality lithium metal ingots with the lowest environmental footprint globally. The additional capabilities to produce lithium metal ingots from scrap allow for diversity of raw material supply, which is critical as the company continues to advance its C2M metal technology and its ultrathin lithium metal anodes platform.

Conventional lithium-ion batteries, while widely used, face critical challenges, including limited energy density, slow charging, capacity fade and safety concerns, that hinder their ability to meet the evolving demands of the modern world. To overcome these challenges next-generation battery technologies that replace graphite anodes with lithium metal are being developed. The scale-up of these technologies by 2028 to 2030 is expected to deliver compact and high-capacity power sources that could unlock new markets, including electric aviation and eVTOLs (electric vertical takeoff and landing), in addition to mitigating electric vehicle range anxiety and making them more cost efficient. In line with the scale-up, Li-Metal is advancing its vertically integrated lithium metal and anode technology platform to produce ultrathin, high-performance lithium metal anodes to help enable the commercialization of next-generation battery technologies.

Li-Metal also announced that it has signed a digital marketing agreement, which is expected to start on or around Nov. 15, 2023, retaining Aktiencheck AG (the service provider), located at Bahnhofstrasse 6, 56470 Bad Marienberg, Germany (e-mail: stefan.lindam@aktiencheck.de), to provide marketing services to the company. Aktiencheck AG has been engaged to heighten investor awareness for the company by providing digital content, advertising and promotional services targeting the European market. Aktiencheck will provide these services for a two-month period (ending mid-January, 2024), for which Li-Metal has agreed to pay $200,000 (U.S.). Services provided pursuant to the agreement will include media placements and distribution of original content, including articles and advertisements, to be distributed via various investment portals. The service provider will also update the European market on latest company developments and provide digital advertising consulting services. Neither the principals nor any employees of the service provider hold common shares, options or warrants of Li-Metal.

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. It believes its patented lithium metal technology, which was recognized on the Time Best Innovations list for 2023, and 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.

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