Nemaska Lithium Receives First Installment of $2.1 Million for Phase 1 Lithium Hydroxide Plant

Nemaska Lithium Inc. (TSXV:NMX,OTCQX:NMKEF) announced the signing of the final contract for the $12.87 M non-repayable grant for construction and operation of its Phase 1 Lithium hydromet plant. Concurrently with the signing of the agreement with Sustainable Development Technology Canada, the Corporation has received the first instalment of $2.1M.
As quoted in the press release:

The Phase 1 plant is designed to produce 500 tonnes per year of high purity lithium hydroxide. The Corporation is pleased to announce that the detailed engineering has commenced and that the construction of the Phase 1 plant is expected to start during Q1-2016 and be completed during Q4-2016. Once built, Nemaska Lithium intends to use this facility to produce commercial lithium hydroxide samples to send to end users in the lithium battery market with a goal of securing off-take agreements in advance of start of operation at the Whabouchi lithium mine and commercial hydromet facility. Nemaska Lithium is in discussions with a number of potential end users, all of which have requested samples as soon as possible.

Nemaska Lithium President and CEO, Guy Bourassa, stated

The demand for lithium hydroxide is growing at double digit rates annually and end users are keen to secure supply. Our unique method of producing lithium hydroxide uses electrolysis technology whose main input is electricity which, in Quebec, is green renewable hydro-electricity. This makes our lithium hydroxide process one of the greenest and lowest cost in the world. This is a value proposition which is unmatched in the industry and perfectly aligns us with the values of battery manufacturers, electric vehicle and energy storage consumers globally. The SDTC has a vision for clean technology-based businesses in Canada and we are proud to be a recipient of SDTC funding.

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