The goal for E3 Lithium is to separate lithium from the aquifer of the Leduc reservoir for use in EV and battery technology
Calgary-based E3 Lithium has secured $27 million in federal funding to help the company continue to progress toward extracting lithium from the province’s old oilfields.
The funding announced Monday is part of Innovation, Science and Economic Development’s Strategic Innovation Fund, which has put $6.8 billion toward 107 projects across Canada.
“It’s absolutely huge on multiple levels,” said Chris Doornbos, E3 Lithium CEO and founder. “Seeing this level of investment in Alberta with our resources, I think it’s a big vote of confidence from the federal government.”
The goal for E3 is to separate lithium from the aquifer of the Leduc reservoir for use in electric vehicle and battery technology. E3 is attempting to use an ionization process, which will separate lithium from the brine left over from oil extraction by drilling into the aquifer below the reserve. Once the lithium has been extracted, the remaining water will be returned to the aquifer.