viewInfinity Pharmaceuticals Inc.

Infinity Lithium outlines importance of its San Jose project to European Battery Alliance

The European Investment Bank is evolving with rapidly progressing lithium-ion battery technology and reviewing its lending policy to include more battery raw materials and mining projects.

Lithium resource security is imperative to defend and enhance European interests

Infinity Lithium Corporation Limited (ASX:INF) has outlined the significant role that the San José Lithium Project in Spain can play in developing lithium extraction and refining in Europe while hosting European Battery Alliance (EBA) members.

The company's board welcomed institutional representatives and delegates from major participants in the European and Spanish lithium-ion battery chain in a series of meetings in Madrid last week.

These meetings, which also involved the European Investment Bank (EIB), were held to brief key national and EU stakeholders and provide a forum to discuss the urgency and opportunity in relation to lithium extraction and refining in the EU.

READ: Infinity Lithium sees significant opportunity in European domestic lithium supply chain

The importance of San Jose and other EU lithium-ion battery supply chain opportunities was also reiterated.

Representatives of these groups were given presentations of 'Spain's unique strategic position in the EU’s eMobility Supply Chain' and the San José Lithium Project.

These presentations outlined that the San José project can be a beacon for investment in Extremadura as the EBA focuses on a “battery mining and refining belt”.

Infinity executive director Vincent Ledoux-Pedailles was pleased with the ability of Infinity to bring together key parties in the EU’s lithium-ion battery supply chain.

He said: “This was the first time the EBA had sent representatives to visit a lithium project in the EU.

“It is imperative that we continue to work closely with both the EBA and the EIB to achieve their goals of building a €250 billion lithium-ion battery industry in Europe over the next six years.”

READ: Infinity Lithium sees increasing support for lithium projects in EU

About 400GWh of lithium-ion batteries will need to be produced in Europe by 2025 which is the equivalent of 10-15 Giga factories of a similar scale to Northvolt’s Sweden plant currently under development.

The EBA’s goal is to create a competitive and integrated battery manufacturing value chain in Europe and prevent a technological dependence on Asia.

The next steps will include continued dialogue with the EBA and EIB as Infinity completes the San Jose lithium hydroxide pre-feasibility study (PFS).

READ: Infinity Lithium Corporation secures $1.5 million to complete PFS

The EBA has expressed a desire to visit the San José site and assist in facilitating commercial discussions with other industry participants as part of their “battery mining belt” initiative.

It also recognises that San José has the potential to become an integral component in achieving their goal to create an integrated lithium-ion supply chain within the EU.

Infinity will work collaboratively with the EBA to assess opportunities to attract other industry participants to the region of Extremadura.

Quick facts: Infinity Pharmaceuticals Inc.

Price: 1.07 USD

Market: NASDAQ
Market Cap: $62.99 m

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