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The lithium market could benefit from a Joe Biden victory, noted Albemarle Corp. CEO Kent Masters, as quoted by Bloomberg. "There's the incentives, and the emphasis that's put on electrification and EVs around that. The market side of it would be more favorable with Biden."
In addition, according to Goldman Sachs analyst, Mark Delaney, a Biden win could also boost further electric vehicle adoption, which would boost lithium demand.
Lithium demand could substantially increase with many governments pushing for even more EV adoption. Remember, California Gov. Gavin Newsom just signed an executive order that will ban the sale of gas-powered passenger cars in the state starting in 2035. That means only EVs will be available for purchase in the next 15 years.
In Europe, "Automakers need to sell more electric vehicles after EU lawmakers in December 2018 ordered them to cut CO2 emissions by 40 percent between 2007 and 2021, and then by a further of 38 percent by 2030, or face fines." In China, according to a McKinsey report, EV market share in the country is expected to grow 11 to 14% by 2022.
For any of that to happen, the world desperately needs much more lithium supply.
E3 METALS CORP. (TSXV: ETMC) (OTC Pink: EEMMF) Could Be a Big Part of that Lithium Boom
Most recently, E3 Metals announced improvements to the performance of its Direct Lithium Extraction (DLE) technology. The development work with Livent Corporation has focused on enhancing the overall performance of the technology with the goal towards commercial deployment, planned to ultimately be demonstrated in a pilot plant. Recently, the life span of the material used within the DLE process has increased by six times.
The increase in performance of the DLE material can help to further support the economics of the project. A major step to demonstrating commercial viability is to demonstrate the technology in a pilot plant. The Company is working closely with Livent to move towards this goal as soon as possible.
"The continual improvement of this technology is thanks to the great work from E3 Metals and Livent teams, working together with GreenCentre Canada," commented Chris Doornbos, E3 Metals President and Chief Executive Officer. "We are very excited by the results coming from the development team on a regular basis."
E3 will release further information on the Alberta Lithium Project in its corporate updated and live webinar on Thursday, Nov. 19 at 12:30pm EST.
In addition, the Company just noted that John Pantazopoulos has joined E3 Metals Board of Directors. "I am very excited to strengthen the E3 Metals board of directors with the addition of John Pantazopoulos," added President and CEO Doornbos. "John's background in investment banking combined with his experience as a CFO for Calgary-based energy companies brings critical expertise to E3's strategic growth plan."
John is a finance professional with over 20 years of direct energy industry and senior banking experience. He is currently Interim CEO and CFO of a technology company, which is developing a new electrolyser system designed to generate green hydrogen utilizing renewable energy sources. Previously, John served as Vice President with a large Alberta based financial institution leading a 50+ person team responsible for the credit portfolio within energy, oil field services, project finance and financial markets.
For more information, visit the company's website at https://www.e3metalscorp.com.
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