One of the largest publicly traded lithium companies in the United States is turning to Canada for a new acquisition.
What’s happening:
- Arcadium Lithium (NYSE: ALTM) is acquiring technology and a pilot plant from Li-Metal (CSE: LIM) in a new deal for $11M USD
Why it matters:
- Li-Metal is widely considered to be the first company to successfully produce refined lithium metal from carbonate, which represents a significant breakthrough in materials technology
By the numbers:
- The current market capitalization of Arcadium Lithium is $2.7B USD
- The current market capitalization of Li-Metal is $15M CAD
Going deeper:
- Li-Metal's pilot plant is located in Markham, Ontario and has been advancing new technology for lithium anode and lithium metal to be produced from widely available feedstock supply
- Arcadium Lithium currently has lithium operations in Argentina and Australia, as well as producing speciality lithium products in the United States, the United Kingdom and China
The intrigue:
- Despite lithium prices being significantly down from their all time highs, lithium companies in the United States have been beginning to ramp up with the notable launch of Standard Lithium’s (NYSE: SLI) commercial scale direct lithium extraction column and Lithium Americas (NYSE: LAC) receiving the largest loan ever from the Department of Energy to advance their new lithium production facility in Nevada
