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Infinity Lithium strengthens European strategy with director appointment

The appointment of experienced finance and European commodities executive Remy Welschinger follows the completion of a strategic investment and services deal with InnoEnergy.

Infinity Lithium Corporation Ltd - Infinity Lithium strengthens European strategy with director appointment
The EU has announced a US$572 billion plan to combat climate change

Infinity Lithium Corporation Ltd (ASX:INF) (FRA:3PM) has strengthened its strategy focused on Europe’s strategic battery industry value chain through the appointment of experienced finance and European commodities executive Remy Welschinger as a non-executive director.

After recently completing the InnoEnergy strategic investment and services deal, Infinity believes the appointment will be a great assistance in further developing its European engagement.

Lithium project aligned with strategy

The company is aligning its San José Lithium Project in Spain with the European Union’s self-contained ‘green future’ strategy supported by the newly announced largest green stimulus plan in history with US$572 billion allocated to combat climate change.

Welschinger is the founder and managing director of Limehouse Capital, a London-based investment holding company specialising in natural resources projects.

He currently serves as the finance director and board member on the AIM-listed ARC Minerals Limited (LON:ARCM), and as a director of Scandinavian platinum group metals company Element-46 Limited.

Significant European networks

Welschinger brings significant UK and European Union networks to Infinity after more than 13 years with major London-based institutions, including head of Commodities Sales in Europe for Deutsche Bank and executive director in the Fixed Income and Commodities division of Morgan Stanley.

Infinity’s CEO and managing director Ryan Parkin said that Welschinger’s skills and experience in Europe would be invaluable as the company embarked on its next phase of European engagement.

Adding “immense value”

“We are delighted to welcome Remy to the Infinity team as we continue to progress the evolution of the company,” he said.

“We remain well-positioned to deliver strong news flow following the recent commencement of phase one pilot plant activities.

“Remy’s financial markets experience and relationships within Europe will add immense value to Infinity as we align key European institutions and investors to the EU’s premier fully-integrated lithium hydroxide project.”

InnoEnergy agreement

San José recently became the first lithium project to secure European funding from EIT InnoEnergy as part of a multi-level investment agreement with INF.

It is the second-largest JORC-compliant hard rock lithium deposit in the EU, which is set to become the second-largest market for battery-grade lithium after China.

The project will be unique in that it is intended to be fully integrated with mine and adjacent conversion plant and will be sustainable with a low carbon footprint.

Quick facts: Infinity Lithium Corporation Ltd

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ASX:INF
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Market Cap: $24.22 m
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