European Lithium Secures Initial Funds from Greenpeg, an Eu-commission Funded R&D Project to Support Raw Lithium Sourced from Europe
European Lithium Limited (ASX:EUR, FRA:PF8, NEX:EUR, VSE:ELI) (EUR or the Company) is pleased to announce that ECM Lithium AT GmbH (ECM), the 100% subsidiary of EUR, has been approved as a member of the European Union funded GREENPEG program.
Following the progress as previously reported, European Lithium Limited (ASX:EUR, FRA:PF8, NEX:EUR, VSE:ELI) (EUR or the Company) is pleased to announce that ECM Lithium AT GmbH (ECM), the 100% subsidiary of EUR, has been approved as a member of the European Union funded GREENPEG program. GREENPEG is a complex R&D program, established by the University of Oslo with a number of high calibre partners from the European Union, involved in exploration activities to explore commercial valuable lithium deposits for production in Europe. Programs including GREENPEG show a strong commitment by the European Union to develop independent raw material sources from Europe to cover the future demand for innovative electric storage technology and systems based on Lithium-Ion-Batteries.
The University of OSLO officially started GREENPEG recently and ECM has received initial funds to cover the kick-off for its work program.
Furthermore, EUR is pleased to announce, that the GREENPEG work program was successfully developed together with GeoUnterweissacher consultancy from Hochfilzen in Austria. Dr Unterweissacher, who is EUR’s long term geological advisor and consultant, will be responsible for managing the GREENPEG program together with ECM.
Tony Sage EUR Non-Executive Chairman commented: “This EU collaboration combined with the Companys recent engagement with the Noble Group bodes well for the future of the Wolsberg project. We are continuing to access all available funds from the EU direct and also from the various European countries have on offer for E Mobility.”
Dietrich Wanke EUR and ECM CEO commented: “Given the challenging times we are facing at present, it is an important step for EUR to have the Wolfsgerg Lithium Project engaged with European Union’s support for Lithium supply from Europe.”
This announcement has been authorised for release to the ASX by the Board of the Company.