A newly listed Nasdaq company has a bold ambition: to be the largest local supplier of lithium in Europe.'
What’s happening:
- Lithium mining company Critical Metals (NASDAQ: CRML) has officially gone public on the Nasdaq
- The new public listing was done via a SPAC deal with Sizzle Acquisition Corporation
The big idea:
- Critical Metals owns the first fully licensed lithium mine located within Europe
- Critical Metals Austrian based lithium project Wolfsberg is aiming to be the largest local supplier of battery grade lithium within Europe to both battery manufacturers and automakers
Going deeper:
- BMW previously entered into a partnership with Critical Metals to purchase supply of battery grade lithium for their electric vehicle production
- Europe has been rolling out significant new battery manufacturing facility projects, many of which have attracted government funding to help accelerate the transition to electric vehicles
The intrigue:
- Critical Metals has a joint venture agreement with Obeikan Investment Group to build out the first lithium hydroxide refining plant ever in Saudi Arabia
