https://www.miningweekly.com
Industrial|Innovation|PROJECT|Resources|Services|Environmental
Industrial|Innovation|PROJECT|Resources|Services|Environmental
industrial|innovation|project|resources|services|environmental

Infinity Lithium stock surges on EU funding deal

18th June 2020

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

Font size: - +

Australia-listed minerals company Infinity Lithium has executed binding agreements for a multi-staged funding and added services assistance package with the European Union-based innovation initiative EIT InnoEnergy.

The package was achieved through a recently launched platform that was created by the European Battery Alliance (EBA).

Infinity’s San José lithium project, in Spain, is the first lithium project to secure European funding from EIT InnoEnergy as part of a multi-level investment agreement, through which EIT InnoEnergy funding includes a staged amount of up to €800 000 to fund Phase 1 of a pilot plant for the project.

EIT InnoEnergy will also support fundraising activities for Phase 2 of the pilot plant, marking an investment of up to €2.4-million.

The funding is accompanied by an assistance agreement to support in fundraising activities for up to €300-million in debt and equity investments to fund the project.

EIT InnoEnergy will also support and facilitate negotiations with European offtakers through the EBA network, while simultaneously supporting Infinity Lithium in obtaining the necessary environmental approvals and societal acceptance for the project, which will enable Infinity’s strategic role in the European lithium-ion battery value chain.

Collaboration between Infinity, EIT InnoEnergy and high purity industrial and strategic minerals and metals specialist Dorfner Anzaplan through a Europe-based IP licensing agreement for application to the European Union’s significant lithium-mica resources, will also take place.

Shares in Infinity Lithium jumped 75% on Thursday, closing at A$0.10 apiece.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Stewarts & Lloyds
Stewarts & Lloyds

Stewarts & Lloyds today supplies steel and tube, pipe and fittings, valves, pumps, irrigation, fencing, profiling and roofing products. The cash...

VISIT SHOWROOM 
Environmental Assurance (Pty) Ltd.
Environmental Assurance (Pty) Ltd.

ENVASS is a customer and solutions-driven environmental consultancy with established divisions, serviced by highly qualified and experienced...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.781 0.817s - 108pq - 2rq
Subscribe Now