Minister Rebecca Schulz announces funding to E3 Lithium. (Government of Alberta)

By rdnewsNOW staff

$5M fOR tIER program

E3 Lithium receives provincial funding to commercialize extraction technology

Aug 15, 2024 | 1:24 PM

Due to a rising global demand for lithium, the Government of Alberta is providing Calgary-based E3 Lithium with $5 million through the industry-funded Technology Innovation and Emissions Reduction (TIER) program.

Announced in Mountain View County on Thursday, officials say the funding is intended to help the company commercialize a new technology that extracts lithium naturally found in saltwater, or brines, produced by the oil and gas sector. The lithium extracted is then turned into products that can be sold to battery producers and automotive companies.

Lithium is used to create batteries for a wide range of electronics like pacemakers and other medical equipment, smartphones and laptops, alarm systems, and electric vehicles. The government says massive amounts of lithium will be needed to meet this growing demand.

It is expected that commercializing E3 Lithium’s technology will help diversify the economy, attract investment, and create high-paying energy sector jobs in Alberta.

Due to a rising global demand for lithium, the Government of Alberta is providing Calgary-based E3 Lithium with $5 million through the industry-funded Technology Innovation and Emissions Reduction (TIER) program.

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Announced in Mountain View County on Thursday, officials say the funding is intended to help the company commercialize a new technology that extracts lithium naturally found in saltwater, or brines, produced by the oil and gas sector. The lithium extracted is then turned into products that can be sold to battery producers and automotive companies.

Lithium is used to create batteries for a wide range of electronics like pacemakers and other medical equipment, smartphones and laptops, alarm systems, and electric vehicles. The government says massive amounts of lithium will be needed to meet this growing demand.

It is expected that commercializing E3 Lithium’s technology will help diversify the economy, attract investment, and create high-paying energy sector jobs in Alberta.

The project is expected to help E3 Lithium study how its technology will perform on a small scale, helping to mitigate risks and provide important data on how much lithium can be produced annually for a future, full-scale commercial facility estimated to begin construction in 2026. Government officials say E3 Lithium is the first company to lead this type of extraction project in Alberta.

According to provincial officials, Alberta is home to one of the world’s largest lithium deposits, located deep underground in the Leduc geological formation, which is also a major oil and gas producing area. E3 Lithium holds the mineral rights to an estimated 16 million tonnes of lithium resource and a proven lithium mineral reserve of 1.13 million tonnes of lithium carbonate equivalent.