Stellantis will invest more than $100 million in California's Controlled Thermal Resources, a direct lithium extraction company.
parent announced on Thursday comes as the green energy transition and U.S. Inflation Reduction Act have fueled concerns that supplies of lithium and other materials may fall short of strong demand forecasts.
"This is a significant investment and goes a long way toward developing this key project," Controlled Thermal CEO Rod Colwell said in an interview. Colwell said a $65 million facility recently installed by Controlled Thermal can remove that silica and other unwanted metals. DLE equipment licensed from Koch Industries would then remove the lithium.
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Stellantis invests more than $100 million in California lithium projectAutomaker Stellantis said it would invest more than $100 million in California's Controlled Thermal Resources, its latest bet on the direct lithium extraction (DLE) sector amid the global hunt for new sources of the electric vehicle battery metal.
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