PHILADELPHIA and PERTH, Australia, Aug. 3, 2024 /PRNewswire/ --
Acquisition is expected to provide safer, lower cost and more sustainable process pathways for lithium metal production using various grades of lithium carbonate
Arcadium Lithium plc (NYSE: ALTM, ASX: LTM, "Arcadium Lithium") today announced it has acquired the lithium metal business of Li-Metal Corp. (CSE: LIM) (OTCQB: LIMFF) (FSE: 5ZO). The all-cash US$11 million acquisition includes the intellectual property and physical assets related to lithium metal production, including a pilot production facility in Ontario, Canada.
Key personnel from Li-Metal's lithium metal business will be joining Arcadium Lithium as part of the acquisition. Maciej Jastrzebski, Li-Metal's co-founder and Chief Technology Officer, has entered into a consulting agreement with Arcadium Lithium to facilitate the transfer of technology and integrate the team.
The acquisition is expected to strengthen Arcadium Lithium's position as a leading global producer of lithium metal by providing safer, lower cost and more sustainable processes for lithium metal production using various grades of lithium carbonate feedstock, which the company produces in Argentina. These new capabilities will complement the company's existing process technologies for producing lithium metal at its Bessemer City site in North Carolina, USA, using concentrated lithium chloride from its Güemes facility in Salta, Argentina.
"We are excited to welcome the team to Arcadium Lithium as we look to lead the way in developing cutting-edge lithium carbonate to lithium metal production technology. This small but important acquisition gives us a platform to advance new and better process pathways for manufacturing lithium metal," said Paul Graves, president and chief executive officer of Arcadium Lithium. "The ability to produce lithium metal from lithium carbonate will give us additional flexibility to utilize our vertically integrated network of assets while reducing the need for third-party lithium metal. This will further enhance the competitiveness of our butyllithium and lithium specialty chemicals business and help us create the scale needed to meet the growing demand for next generation battery materials developed from lithium metal."
Arcadium Lithium uses lithium metal to manufacture lithium specialty products, including high purity lithium metal (HPM) and LIOVIX® − a proprietary printable lithium metal formulation, for primary battery applications and next-generation batteries. Arcadium Lithium also processes lithium metal into butyllithium, used in the manufacturing of lightweight "green" tires among other applications, as well as lithium specialty chemicals used in medicine, agriculture, electronics and other industries.
Arcadium Lithium Contacts
Arcadium Lithium Contacts Investors:
Daniel Rosen +1 215 299 6208
daniel.rosen@arcadiumlithium.com
Phoebe Lee +61 413 557 780
phoebe.lee@arcadiumlithium.com
Media:
Karen Vizental +54 9 114 414 4702
karen.vizental@arcadiumlithium.com
About Arcadium Lithium
Arcadium Lithium is a leading global lithium chemicals producer committed to safely and responsibly harnessing the power of lithium to improve people's lives and accelerate the transition to a clean energy future. We collaborate with our customers to drive innovation and power a more sustainable world in which lithium enables exciting possibilities for renewable energy, electric transportation and modern life. Arcadium Lithium is vertically integrated, with industry-leading capabilities across lithium extraction processes, including hard-rock mining, conventional brine extraction and direct lithium extraction (DLE), and in lithium chemicals manufacturing for high performance applications. We have operations around the world, with facilities and projects in Argentina, Australia, Canada, China, Japan, the United Kingdom and the United States. For more information, please visit us at www.ArcadiumLithium.com.
Important Information and Legal Disclaimer:
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements in this news release are forward-looking statements. In some cases, we have identified forward-looking statements by such words or phrases as "will likely result," "is confident that," "expect," "expects," "should," "could," "may," "will continue to," "believe," "believes," "anticipates," "predicts," "forecasts," "estimates," "projects," "potential," "intends" or similar expressions identifying "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including the negative of those words and phrases. Such forward-looking statements are based on our current views and assumptions regarding future events, future business conditions and the outlook for Arcadium Lithium based on currently available information. There are important factors that could cause Arcadium Lithium's actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements, including the factors described under the caption entitled "Risk Factors" in Arcadium Lithium plc's 2023 Form 10-K filed with the Securities and Exchange Commission ("SEC") on February 29, 2024, as well as Arcadium Lithium's other SEC filings and public communications. Although Arcadium Lithium believes the expectations reflected in the forward-looking statements are reasonable, Arcadium Lithium cannot guarantee future results, level of activity, performance or achievements. Moreover, neither Arcadium Lithium nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. Arcadium Lithium is under no duty to update any of these forward-looking statements after the date of this news release to conform its prior statements to actual results or revised expectations.
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