Ioneer Ltd

Ioneer And Dragonfly Energy Partnership To Strengthen U.S. Lithium Battery And Storage Supply Chain

Ioneer Ltd (“Ioneer” or “the Company”) (ASX: INR, Nasdaq: IONR) an emerging lithium-boron producer, and Dragonfly Energy Holdings Corp. (NASDAQ: DFLI), an industry leader in energy storage, announced a commercial offtake agreement partnership that will strengthen U.S. battery supply chains and invest in the production and manufacturing of Nevada- sourced lithium. The agreement between the two Nevada-based companies is expected to pave the way for continued investment in the state and provide Dragonfly with a domestic supply of lithium carbonate, a critical component in lithium iron phosphate battery cells.


Highlights:

  • Nevada Gov. Joe Lombardo states the importance of partnerships like those between Dragonfly Energy and Ioneer as vital to strengthening and diversifying Nevada economy.
  • Agreement advances Nevada production and manufacturing of critical minerals and accelerates domestic electrification pipeline for EV battery components.

The agreement builds on an effort to produce, utilize and recycle lithium, closing the lithium loop in Nevada that Gov. Joe Lombardo has prioritized for his administration, detailed in both his recent State of the State address and his Five Year Strategic Plan.

“This agreement between Dragonfly Energy and Ioneer, and hopefully more like it in the future, are vital to our economy as we work to develop this new industry, secure Nevada’s energy independence and close the lithium loop,” said Nevada Governor Lombardo. “In the future, we hope to see more Nevada companies creating innovative partnerships like this one, which will help strengthen our economy and demonstrate how Nevada is the lithium capital of North America.”

“As the world’s demand for lithium in electric vehicle and energy storage increases, the need to secure a reliable, sustainable, and domestic source of lithium is critical. Ioneer is pleased to partner with Dragonfly and deliver these critical materials from Rhyolite Ridge,” said Bernard Rowe, managing director and CEO at Ioneer.

“Deploying our innovative dry powder coating cell manufacturing process is exciting. But ultimately, cell production is only made possible by access to lithium,” Dr. Denis Phares, CEO of Dragonfly Energy, said. “This agreement gives us the opportunity to bring our entire manufacturing process not only to the U.S. but to Nevada, from mining to manufacturing to recycling.”

The agreement demonstrates Ioneer’s tremendous value to the American supply chain. Rhyolite Ridge is one of the most sophisticated undeveloped U.S. lithium projects, and one of few in the world where lithium will be extracted and refined locally. Once federal permitting and construction is complete, Rhyolite Ridge is expected to quadruple current U.S. lithium output. The agreement also moves Dragonfly Energy closer to achieving the company’s mission of establishing a vertically integrated lithium battery cycle, from mining to cell and pack production to recycling.


Click here for the full ASX Release

This article includes content from Ioneer Ltd, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

INR:AU
The Conversation (0)
Lithium Universe

Successful Completion of Tranche 1 Share Placement

Lithium Universe Limited (referred to as "Lithium Universe" or the "Company," ASX: "LU7”) is pleased to announce that further to its announcement dated 31 October 2024 (ASX:LU7 LU7 Completes Share Placement and Launches Entitlement Offer) (Announcement), it has now settled the first tranche of its share placement to sophisticated and professional investors (Tranche 1).

Keep reading...Show less
Red Tesla electric vehicle with lithium-ion battery icon in corner.

Where Does Tesla Get its Lithium? (Updated 2024)

As the energy transition continues to unfold, US electric vehicle (EV) pioneer Tesla (NASDAQ:TSLA) has been making moves to secure supply of the raw materials it needs to meet its production targets.

Lithium in particular has been top of mind for CEO Elon Musk. Back in 2020, the battery metal had a spotlight moment at Tesla’s Battery Day, when Musk shared that the company had bought tenements in the US state of Nevada, and was looking for a new way to produce lithium from clay — a process yet to be proven at commercial scale.

Lithium prices went on to hit all-time highs, but swiftly declined last year and continuing on a downward trend in 2024. Prices for other key battery metals have also decreased as EV sales growth has fallen across most global markets in the face of economic uncertainty and higher interest rates. According to Goldman Sachs research, EV battery costs are at record lows and are forecasted to fall by 40 percent between 2023 and 2025.

Keep reading...Show less
Total Voting Rights

Total Voting Rights

In conformity with the Disclosure Guidance and Transparency Rules ("DTRs") of the Financial Conduct Authority (the "FCA"), CleanTech Lithium, an exploration and development company advancing lithium projects in Chile for the clean energy transition, announces that as at the date of this announcement the Company's issued share capital consists of 167,889,592 ordinary shares of 1p each with voting rights (the "Ordinary Shares").

Keep reading...Show less
Lithium Universe (ASX:LU7)

Entitlement Issue Prospectus

Lithium Universe (ASX:LU7) presents this entitlement issue prospectus.

Keep reading...Show less

Latest Press Releases

Related News

×