Construction on Mangrove Lithium facility in Delta to begin soon
In 2023, global demand for lithium-ion batteries was forecasted to grow sixfold—from 0.7 terawatt hours to 4.7 terawatt hours—by 2030, driven largely by demand from electric vehicles.
For North America, Japan and Europe, one of the challenges in EV and battery manufacturing will be producing enough battery grade lithium to meet the demand in EV growth, especially now that China has made moves to restrict the export of lithium refining technology.
All of which makes the recent announcement of a new $50 million (US$35 million) lithium refinery in B.C. well-timed. Mangrove Lithium, a B.C. cleantech originally backed by Bill Gates’ Breakthrough Energy Ventures, recently announced the closing of a $50 million financing deal to finance the construction of a new lithium refinery in Delta, B.C.
For the rest of this article: https://www.biv.com/biv-rss-newsletter/bcs-50m-lithium-refinery-aims-to-break-chinas-grip-10226199