Lithos Group Ltd (LITS)

[Trooperstocks]

NEWS HIGHLIGHTS: $1.3 Million definitive funding award provides significant cash resources to Denver Lab to preform bench scale tests with brines sourced from Chile, Argentina, and the US.
Aqueous has pre-qualified and commenced application for up to US$30 Million follow-on award under area of interest 1B Phase II from the DOE funding opportunity announced on September 6, 2023.
Up to $150 million of grant funding was announced to support pilot scale facility development and construction of processing plants to produce and refine critical minerals and materials in the United States. This directly aligns with vision and goals of the previously announced Crimson Tide Facility.
The 'Crimson Tide' Hydroxide facility will selectively pre-treat raw continental brines, concentrate lithium chloride with DLE, and upgrade the concentrate into a final battery grade product of lithium hydroxide monohydrate.
Facility is strategically located next to Mercedes-Benz US International, Inc., Honda Manufacturing of Alabama, LLC, Hyundai Motor Manufacturing Alabama, LLC. The Alabama site is Hyundai's first U.S. manufacturing plant and ranks as the state's third-largest industrial employer tied with Mercedes-Benz.
In regional proximity to the Smackover brine reservoir and all major U.S automobile Manufacturers including Tesla, G.M, and Ford.
https://www.prnewswire.com/news-releases/lithos-launches-next-generation-battery-systems-at-the-battery-show-301924640.html