Leading Edge Materials Partners with Sweden's Northvolt in InnoEnergy Battery Project
VANCOUVER, July 27, 2017 /CNW/ - Leading Edge Materials Corp. ("Leading Edge Materials") or (the "Company") (TSXV:LEM) (OTCQB: LEMIF) is pleased to announce the partnering with Northvolt AB as a part of an innovation project agreement with InnoEnergy for the establishment of a Large Scale Battery Manufacturing Project in Sweden. The aim of the project is that LEM will contribute to the production of battery cells through qualification of sustainably produced natural graphite.
The project is focused on developing the conditions for a local source, very low CO2 impact and leading cost structure for battery cell manufacturing.
Blair Way, President and CEO, stated "This is an exciting time for the lithium ion battery market and we are very pleased to be a part of such an important project in the EU. The demand for lithium ion batteries is forecast to be strong as the world shifts to low emission transport and storage options. It is an excellent opportunity to participate in a program such as this to demonstrate our ability to be an important part of the supply chain for large scale lithium ion battery manufacturing."
On behalf of the Board,
Blair Way, President & CEO
About Leading Edge Materials
Leading Edge Materials was formed with our sights firmly focused on the material demands of a once-in-a-generation revolution, as the world shifts to the efficient production, storage and preservation of low carbon energy. From the lithium batteries in our electric vehicles to our ability to generate energy from the sun, wind and waves LEM is focused on the green energy markets. With a focus on Europe and assets in innovation-rich Scandinavia, Leading Edge Materials is ideally placed to play a pivotal role in the sustainable supply of critical technology materials.
Electrification and renewable energy storage are the keys to a carbon neutral society. Batteries will enable the transition. The auto industry alone will need batteries in huge numbers to replace fossil fuels with electricity. The ability to store energy is also crucial to free the world's energy generation and distribution from coal, oil and natural gas. Northvolt accelerates this transition by building Europe's largest battery factory.
InnoEnergy is the innovation engine for sustainable energy across Europe. They support and invest in innovation at every stage of the journey – from classroom to end-customer. With their network of over 320 partners they build connections across Europe, bringing together inventors and industry, graduates and employers, researchers and entrepreneurs, businesses and markets. Working together, they accelerate the development of market-ready solutions, and create a fertile environment in which they can sell the innovative results of their work.
The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), accept responsibility for the adequacy or accuracy of this news release.
Forward-Looking Information. This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include but are not limited to, the Company's expectations regarding the lithium ion battery market, the successful establishment of a large scale battery manufacturing project in Sweden; graphite production at Woxna, the Company's preliminary economic assessment on Woxna is no longer current or valid as a result of the filing of a new NI 43-101 Technical Report effective March 24, 2015, and the Company has no plans to complete a new preliminary economic assessment, a pre-feasibility or feasibility study on the project, as such there is an increased risk of technical and economic failure for the Woxna graphite project; unexpected geological conditions; exploration activities to advance other critical material projects of the Company for energy storage markets, delays in obtaining or failure to obtain necessary permits and approvals from government authorities. Although such statements are based on management's reasonable assumptions, there are risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
SOURCE Leading Edge Materials
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