European Lithium Ltd (ASX:EUR) (FRA:PF8) (NEX:EUR) (VSE:ELI) has further strengthened links to Europe’s growing push for a cleaner and greener future through a collaboration with the European Union-funded GREENPEG program.
ECM Lithium AT GmbH, the 100% subsidiary of European Lithium, has been approved as a member of the GREENPEG program with initial funds of €120,000 received for R&D work.
GREENPEG is a complex R&D program established by the University of Oslo with a number of high-calibre European Union (EU) partners, involved in exploration activities to explore commercial valuable lithium deposits for production in Europe.
Another key partnership
This collaboration with GREENPEG follows the company’s recent key partnership with global EV technology metals leader Talaxis Limited, a wholly-owned subsidiary of Noble Holdings.
The European Union’s raw materials support along with the Talaxis partnership shows strong commitment to develop EUR’s Wolfsberg Lithium project in Austria.
“Bodes well for future”
Non-executive chairman Tony Sage said: “This EU collaboration combined with the company's recent engagement with the Noble Group bodes well for the future of the Wolfsberg project.
“We are continuing to access all available funds from the EU direct and also from the various European countries have on offer for E Mobility.”
Programs including GREENPEG show a strong commitment by the EU to develop independent raw material sources from Europe to cover the future demand for innovative electric storage technology and systems based on lithium-ion batteries.
The University of Oslo officially started GREENPEG recently and ECM has received the initial funds to cover the kick-off for its work program.
Developed in Austria
Further strengthening EUR’s links is the fact that the GREENPEG work program was successfully developed together with GeoUnterweissacher consultancy from Hochfilzen in Austria.
Dr Unterweissacher, who is EUR’s long-term geological advisor and consultant, will be responsible for managing the GREENPEG program together with ECM.
EUR and ECM CEO Dietrich Wanke said: “Given the challenging times we are facing at present, it is an important step for EUR to have the Wolfsberg Lithium Project engaged with European Union’s support for lithium supply from Europe.”