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.