Stria Lithium Welcomes Announcement to Build $1.5B Electric Vehicle Battery Plant in Ontario
Stria Lithium Welcomes Announcement to Build $1.5B Electric Vehicle
Battery Plant in Ontario
KINGSTON, ONTARIO, July 19, 2022 - Stria Lithium Inc. (TSX.V:SRA) (Stria or “The
Company”) welcomes last week’s announcement by Canada’s Prime Minister Justin Trudeau of
plans to build a new plant to produce cathode-active battery materials near Stria’s headquarters in
Kingston, Ontario.
The Prime Minister made the announcement at Queen's University in Kingston, saying that the
planned facility, which will be operated by Belgian metal refiner Umicore, will supply materials
for one million electric vehicles (EVs) per year, equivalent to approximately 20% of the North
American EV market by 2030. Umicore’s plant will require critical minerals such as nickel, cobalt
and lithium to transform them into materials for the cathode, or electrical conduction, component
of the battery. All three of these critical minerals are required to produce lithium-ion batteries for
electric vehicles.
“As a lithium exploration company, this announcement is good news for Stria Lithium,” said Dean
Hanisch, the Company’s CEO. “The fact that Canada and Ontario are financially supporting
Umicore’s initiative highlights the importance that both jurisdictions place on Canada leading the
way to supply the raw minerals needed for EV battery production. It shows that they are confident
in Canada’s ability to be a key supplier of critical minerals such as lithium as the first components
in a North American supply chain for EV batteries and other green energy applications.”
Mr. Hanisch continued, “Battery plants such as this one will require local sources of lithium
carbonate, and with Stria’s headquarters located in Kingston and its Pontax lithium property in the
favourable jurisdiction of Quebec, with access to renewable and inexpensive hydroelectric power,
we are well-poised to become a lithium supplier of choice.”
About Stria Lithium Inc.
Stria Lithium is a Canadian junior mineral exploration company with an expanding technology
focus and has a 100% interest in the Pontax spodumene lithium project in Northern Québec.
Lithium is a critical metal in the universal fight against global warming. It is a core component of
Lithium-ion batteries used for powering electric vehicles and for industrial-scale energy storage.
For more information about Stria Lithium and the Pontax Lithium project, please visit
http://strialithium.com.
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For more information on Stria Lithium Inc., please contact:
Kimberly Darlington
Communications, Stria Lithium Inc.
Judith T. Mazvihwa-MacLean
CFO, Stria Lithium Inc.
(613) 581-4040