Perth-based Lithium Australia NL (ASX: LIT), engaged in acquiring and developing lithium deposits, has announced that its energy-storage division Soluna Australia (a 50-50 partnership between Lithium Australia and China-based DLG Energy Co. Ltd) has signed a letter of intent with Northern Minerals Ltd (ASX: NTU) to develop a renewable-power and battery storage facility at NTU’s Browns Range rare earth operation in the east Kimberley region of Western Australia. Also, Soluna has received first orders for its renewable-energy storage systems (ESS) and revenue is expected to commence in June 2020.
The LIT stock was trading at $ 0.052, up 4% at AEST 12.10 PM on 7 May 2020.
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