A Calgary-based company that extracts lithium from old oilfields has received new funding from the Alberta government that it says will help the company bring its multibillion-dollar project to market. E3 Lithium Ltd. announced Thursday it has received $5 million from the provincial government — yet another round of government funding for the company that turns wastewater from oil and gas into lithium.
Countries across the globe, including Canada, have become increasingly focused on lithium extraction, a resource needed to facilitate greater adoption of electric vehicles and other technologies.
E3 is approaching commercial construction in the next two years as it continues to scale up operations and tests its methods, president and CEO Chris Doornbos told reporters Thursday morning. The company announced last week that it’s moving forward on constructing its “demo” facility that will mimic its planned commercial facility, named the Clearwater project, at a smaller scale.
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