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Lithium Universe (ASX: LU7) advances Bécancour Lithium Refinery plans with Hydro-Québec power application - Kalkine Media

April 24, 2024 02:19 PM AEST | By Aditi Sarkar
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Highlights

  • Lithium Universe has submitted an application to Hydro-Québec for 18 MW of green power for its proposed Bécancour Lithium Refinery.
  • The power requirements for the planned lithium refinery have been evaluated and finalised by Hatch Engineering.
  • The company’s Chairman hailed this strategic move as pivotal for the lithium refinery project's advancement.

Lithium Universe Limited (ASX: LU7) experienced a notable upswing on the ASX today (Wed 24 Apr), with its shares trading 26% higher. This uptick came in response to the company's announcement regarding its progress in strategy towards producing more environmentally friendly battery-grade lithium carbonate at the proposed Becancour Lithium Refinery.

The company has applied for up to 18 megawatts of green electricity (Train 1) to Hydro- Québec. 

Reflecting on the milestone, Lithium Universe’s Chairman, Iggy Tan said "The strategic move to secure green electricity from Hydro-Québec marks a significant step in our lithium refinery project. Our emphasis on early work streams underscores our determination to accelerate the development process. We are committed to fast-tracking the development, ensuring the refinery becomes a reality in record time."

At the time of writing this article (Wed 24 Apr 1:38 PM AEST), the share price of LU7 was AU$0.033.


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