EANS-Adhoc: European Lithium Limited European Lithium to participate in a battery production funding programme launched by the German Ministry of Economy
Disclosed inside information pursuant to article 17 Market Abuse Regulation (MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is responsible for the content of this announcement.
Perth/ Wolfsberg – European Lithium Limited (ASX:EUR)(FRA:PF8)(VSE:ELI)(NEX:EUR) (European Lithium or the Company) is part of a syndicate applying for funds from a grants programme launched by the German Ministry of Economy (BMWi) to ramp up battery production in Germany. This syndicate comprises numerous acclaimed industry players and must include partners from at least two EU states to meet the relevant tender criteria. Thanks to the lithium resources mined and produced in Austria, this syndicate will be able to represent the entire value chain within Europe, while still fully complying with the highest environmental standards. Considering that sustainability requirements throughout the entire production process are steadily increasing, this is a significant advantage for all the companies involved. The anticipate the application documents will be filed with the authorities on 15 March 2019.
The goal of the funding programme of the German BMWi is to create a network for the production of battery cells of the latest generation, together with other European countries. In order to cover the value chain of battery production as broadly as possible in the future, the BMWi plans to allocate up to one billion euros.
European Lithium further announces that the company is in advanced stages of discussions with several European companies regarding the completion of long-term offtake agreements. Some of these companies are members of the aforementioned syndicate.
end of announcement euro adhoc
issuer: European Lithium Limited
32 Harrogate Street
A-WA6007 West Leederville
stockmarkets: Wien, Frankfurt
Digital press kit: http://www.ots.at/pressemappe/31529/aom