Dr. Srini Godavarthy reports

LI-METAL SUCCESSFULLY DEMONSTRATES ELECTROLYTE RECONDITIONING PROCESS FOR CARBONATE-TO-METAL TECHNOLOGY

Li-Metal Corp. had demonstrated its electrolyte reconditioning process. This process is a pivotal component supporting Li-Metal's patented and modular carbonate-to-metal (C2M) technology, an environmentally conscious approach to lithium metal production -- a critical material used in next-generation batteries.

The electrolyte reconditioning process plays a crucial role in the closed-loop operation of Li-Metal's C2M technology. This process facilitates the conversion of excess anolyte, located near the anode, into catholyte, situated near the cathode. This closed-loop operation enhances operational efficiencies and minimizes wastage of this valuable resource, marking a significant advancement in sustainable lithium metal production.

The successful completion of testing underscores the viability of Li-Metal's C2M technology, a key enabler and differentiator for Li-Metal's ultrathin lithium metal anode business. Li-Metal expects to integrate its reconditioning process into its existing C2M pilot in Markham, Ont., ensuring cost-effective and streamlined operations. Li-Metal plans to demonstrate its C2M and electrolyte reconditioning technology at scale in Q1 2024 during a metal pilot campaign. In 2022, Li-Metal engaged its global engineering partner for a concept study on a 1,000-tonne-per-year commercial-scale lithium metal production plant. The company's recent testing results validate an assumption critical to operating expense estimates provided by the study.

"Li-Metal is excited to achieve another key technological milestone as we scale up our environmentally friendly C2M technology to support the production of high performance, ultrathin lithium metal anodes," said Dr. Srini Godavarthy, chief executive officer of Li-Metal. "Aligning with our mission to optimize resource utilization, our unwavering commitment to sustainability is further highlighted through the successful demonstration of electrolyte reconditioning, enabling a closed-loop operation for our metal production process.

"In a year marked by transformative achievements, Li-Metal has showcased its technological prowess with the successful pilot-scale production of technical-grade lithium metal and purification to battery-grade lithium metal," continued Dr. Godavarthy. "We fortified our position at the forefront of lithium metal innovation as we announced the grant of our first patent for metal production, and we have been subsequently recognized by Time in their Best Innovations of 2023 list. Li-Metal is thrilled to propel our vertically integrated growth strategy forward with these advancements in our cost-effective and modular C2M technology."

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. The company believes its 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.

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