An Alberta company aiming to extract lithium from the province’s old oil fields has received $37 million from the federal government.
E3 Lithium has developed a technology to extract lithium, a light metal used to make EV batteries, from oilfield brine.
E3 Lithium has already drilled test wells within Alberta’s historic Leduc oil field region. It intends to have a field pilot project underway next year.
Imperial Oil Ltd. has also invested in E3 Lithium and provides technical and development support for the company.
The federal government has identified lithium as a focus of its $3.8 billion, eight-year critical minerals strategy.
The goal is to create a domestic supply chain for electric vehicles, boosting the economy while tackling greenhouse gas emissions.
