Infinity Lithium Corporation Ltd (ASX:INF) directors Ryan Parkin and Adrian Byass have demonstrated their support of the company’s integrated European lithium strategy by participating in a placement.
The two directors supported the placement which raised approximately A$1.5 million before costs to the tune of around A$80,000.
This was subject to shareholder approval, which was obtained at a general meeting of the company held on September 9, 2019.
Support from sophisticated investors
International and Australian sophisticated investors supported the placement which was made at a price of 7 cents per share.
Placement funds will be used primarily to complete a pre-feasibility study for the San José Lithium Project in Spain as well as additional engineering and battery-grade product production as part of a definitive feasibility study.
San José is a highly advanced lithium-tin deposit with near-term production potential for an integrated lithium chemicals development project strategically located in the Extremadura region of Spain.
Focus on European supply chain
Supporting and enhancing this strategy, Infinity Lithium director Vincent Ledoux-Pedailles has been invited to participate in numerous advisory boards, panels and conferences in Europe throughout September.
These events highlight the EU’s increased focus on the development of the lithium-ion battery supply chain within Europe.
Selected as a lithium expert
The director has been selected as a lithium expert by the European Commission to contribute to the next EU criticality assessment which is expected to result in a list of critical raw materials for the EU in 2020.
The company has joined the Advisory Board of CERA (Certification of Raw Materials) and which also includes Volkswagen, Euromines and the United Nations Economic Commission for Europe.
The CERA project, which began in April 2017, is supported by EIT RawMaterials and aims to develop a standardised certification scheme for raw materials.
This CERA Standard will ensure environmental, social and economic sustainability for all raw materials through the value chain and guarantees traceability of certified materials by using a combination of traceability methods.
Participation in EBA meeting
Infinity Lithium will participate in the European Battery Alliance (EBA) meeting in Brussels on September 25, 2019, as part of its ongoing collaboration with the EBA.
During this meeting, the Business Investment Platform (BIP) for batteries will be officially launched. This has been designed to bridge the gap between financial institutions and businesses willing to invest and develop the lithium-ion battery supply chain in Europe.
The EBA includes the European Commission, the European Investment Bank and key industry stakeholders.
Attending Battery Materials Europe
Battery Materials Europe 2019 in Amsterdam on September 26 and 27 is another event that the company will attend with the entire European battery raw material supply chain present under the one roof.
This includes Honda, Ford, Volvo, LG Chem, ATL Jaguar Land Rover and many more.
Ledoux-Pedailles will discuss 'The future of battery-grade lithium - how are existing supply chains likely to change'.
Another event in which Infinity Lithium will participate is AVERE, The European Association for Electromobility, on September 25, which will examine what policies the EU needs in a world where electromobility is the new standard.
Ledoux-Pedailles will participate in the following panel - 'How to develop a competitive sustainable European battery industry'.
Also attending this event will be the European Commission and Renault-Nissan.