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Li-Metal Corp
Symbol LIM
Shares Issued 28,650,422
Close 2021-11-24 C$ 13.25
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Li-Metal's Markham facility reaches initial operation

2021-11-25 01:45 ET - News Release

Mr. Maciej Jastrzebski reports

LI-METAL ADVANCED ANODE DEVELOPMENT FACILITY BECOMES OPERATIONAL

Li-Metal Corp.'s advanced anode material development facility in Markham, Ont., has reached initial operation capability.

The facility houses small-scale deposition equipment that can rapidly produce anode materials for evaluation and testing, which are a key piece of the strategy to develop Li-Metal's highly scalable, cost-effective, sustainable lithium anode technology. These advanced anode materials will be produced at the facility for evaluation and optimization, followed by initial industrialization at the roll-to-roll anode facility in Rochester, N.Y.

"Our advanced anode material development facility will greatly enhance our ability to develop our second- and third-generation products and to customize them for each of our customers' specific and unique needs," said Li-Metal's co-founder and chief executive officer, Maciej Jastrzebski. "This facility increases our capacity to deliver on our product road map and to grow our product and [intellectual property] portfolio."

To meet rapidly growing demand and the need for superior lithium anode material, Li-Metal expects to reach commercial scale by 2025. As electrification continues to gain momentum, the adoption of next-generation batteries will accelerate, and EV manufacturers will seek high performance next-generation batteries to power more cost-effective, longer-range and safer EVs. The need for high performance anodes is expected to surge as total demand for lithium-ion batteries is expected to exceed 2.6 terawatt-hours per year, according to BloombergNEF, and total annual EV production is expected to exceed 30 million vehicles per year. Major global EV manufacturers, including BMW, GM and Volkswagen, are expected to advance next-generation batteries to product qualification for future EVs in the coming years. Sufficient lithium metal anode production will be critical to clearing this hurdle.

About Li-Metal Corp.

Li-Metal is a Canadian-based company developing lithium metal anodes and lithium metal production technologies for use in next-generation batteries. Its production methods are significantly more sustainable than existing products, and offer lighter, more energy dense and safer batteries that are critical to tomorrow's electric vehicles.

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