Avalon Advances Sustainability Efforts with Proposed Solar Farm at its Thunder Bay Industrial Site
Avalon Advances Sustainability Efforts with
Proposed Solar Farm at its Thunder Bay
Industrial Site
Toronto, Ontario--(Newsfile Corp. - September 11, 2024) -
Avalon Advanced Materials Inc.
(TSX:
AVL) (OTCQB: AVLNF) ("Avalon" or the "Company"),
is pleased to announce plans to develop a
zero-emission solar farm at its 100% owned Thunder Bay industrial site, the future home of Avalon's
planned lithium processing facility. This initiative underscores Avalon's commitment to sustainability and
positions the province as a leader in advanced manufacturing and clean energy.
The proposed solar farm will repurpose a portion of the site land which is unused and non-productive
and will use additional rooftop area once the facility is built. The renewable energy generated, with the
potential for expansion through battery storage technology, could fully support the energy requirements of
the lithium processing facility. This clean energy will help offset the facility's carbon footprint, contributing
significantly to Avalon's goal of achieving Net Zero emissions.
Strategically located near the 115kV P1T and P1P electrical grid distribution lines and close to the H1
Port Arthur Transfer Station, the solar farm will benefit from reduced transmission and distribution losses,
thereby enhancing energy efficiency. By harnessing local solar energy production, Avalon will reduce its
carbon impact and contribute to the region's broader sustainability footprint.
Scott Monteith, CEO of Avalon, commented, "Our commitment to sustainability and ensuring innovative
design components at our lithium processing facility is about ensuring we build with the future in mind.
While there is work ahead to be done, Avalon is keen to integrate this solar capacity into the energy load
of our project, helping us minimize our footprint."
The energy generated by the solar farm can also be fed into the grid, providing clean energy to local
communities, including First Nations, and reinforce Avalon's role as a leader in sustainable
development.
About Avalon Advanced Materials Inc.
Avalon Advanced Materials Inc. is a Canadian advanced manufacturing company focused on vertically
integrating the Ontario lithium supply chain.
The Company, through its joint venture with SCR-Sibelco NV,
is currently developing its Separation Rapids lithium deposit near Kenora, ON, while also continuing to
advance the Snowbank lithium and Lilypad lithium-caesium projects.
Avalon is also working to develop
its Nechalacho rare earths and zirconium project located in the Northwest Territories.
This deposit
contains critical minerals for use in advanced technologies in the communications and defense
industries among other sectors.
In addition to these upstream activities, Avalon is executing on a key initiative to develop Ontario's first
midstream lithium hydroxide processing facility in Thunder Bay, ON, a vital link bridging the lithium
resources of the north with the downstream EV battery manufacturing base in the south.
For questions or feedback, please email the Company at
or contact Ms.
Rachel Naji, Investor Relations Manager at 416-364-4938
Cautionary Statement Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking
information includes but is not limited to statements related to the planned solar farm, including the use of non-productive land and rooftop areas
and that the energy generated by the solar farm can also be fed into the grid. Generally, forward-looking information can be identified by the use of
forward-looking terminology such as "add" or "additional", "advancing", "anticipates" or "does not anticipate", "appears", "believes", "can be",
"conceptual", "confidence", "continue", "convert" or "conversion", "deliver", "demonstrating", "estimates", "encouraging", "expand" or "expanding"
or "expansion", "expect" or "expectations", "forecasts", "forward", "goal", "improves", "increase", "intends", "justification", "plans", "potential" or
"potentially", "promise", "prospective", "prioritize", "reflects", "robust", "scheduled", "suggesting", "support", "top-tier", "updating", "upside", "will
be" or "will consider", "work towards", or variations of such words and phrases or state that certain actions, events or results "may", "could",
"would", "might", or "will be taken", "occur", or "be achieved".
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking
information, including risks associated with mineral exploration and development operations such as: environmental hazards and economic
factors as they affect the cost and success of the Company's capital expenditures, the ability of the Company to obtain required permits and
approvals, the ability of the Company to obtain financing, uncertainty in the estimation of mineral resources, uncertainty with respect to the ability
to successfully construct and develop the Company's lithium processing facility, the price of lithium, no operating history, no operating revenue
and negative cash flow, land title risk, the market price of the Company's securities, the economic feasibility of the Company's mineral resources
and the Company's commercial viability, inflation and uncertain global economic conditions, uncertain geo-political shifts and risks, successful
collaboration with indigenous communities, changes in technology and advancements in innovation may impact the development of the Company's
technology innovation centre and its lithium hydroxide processing facility, future pandemics and other health crises, dependence on management
and other highly skilled personnel, title to the Company's mineral properties, the ongoing war in Ukraine and Israel, extensive government and
environmental regulation, reliance on artificial intelligence technology to influence mining operations, volatility in the financial markets, uninsured
risks, climate change, threat of legal proceedings, as well as those risk factors discussed or referred to in the annual information form of the
Company dated November 28, 2023 (the "AIF") under the heading "Description of the Business - Risk Factors". Forward-looking information is
based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends,
current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the
circumstances at the date that such statements are made, but which may prove to be incorrect. Although the Company believes that the
assumptions and expectations reflected in such forward-looking information are reasonable, undue reliance should not be placed on forward-
looking information because the Company can give no assurance that such expectations will prove to be correct. In addition to other factors and
assumptions identified in the AIF, assumptions have been made regarding, among other things: management of certain of the Company's assets
by other companies or joint venture partners, the Company's ability to carry on its exploration and development activities without undue delays or
unbudgeted costs, the ability of the Company to obtain sufficient qualified personnel, equipment and services in a timely and cost effective
manner, the ability of the Company to operate in a safe, efficient and effective manner, the ability of the Company to obtain all necessary financing
on acceptable terms and when needed, the accuracy of the Company's resource estimates and geological, operational and price assumptions on
which these are based and the continuance of the regulatory framework regarding environmental manners. Readers are cautioned that the
foregoing list is not exhaustive of all factors and assumptions that may have been used. Although the Company has attempted to identify important
factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that
cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue
reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with
applicable securities laws.
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