Li-Metal and Blue Solutions Sign Joint Development and Commercialization Agreement to Advance Development of Next-Generation Batteries

Li-Metal to Collaborate with Leading Commercial Producer and Developer of Lithium Metal All-Solid-State Batteries

TORONTO, ON / ACCESSWIRE / February 28, 2022 / Li-Metal Corp. (CSE:LIM)(FSE:5ZO) ("Li-Metal" or the "Company"), a leading developer of lithium metal anode and lithium metal technologies critical for next-generation batteries, announced today that it has signed a Joint Development and Commercialization Agreement ("JD/CA") with Blue Solutions, the largest producer of solid-state lithium metal batteries.

The JD/CA will help significantly advance the development of Li-Metal's high-performance low-cost lithium metal anode technologies and Blue Solutions' solid-state batteries to be used in passenger electric vehicles (EVs). The JD/CA marks a strategic milestone for Li-Metal as it moves toward product testing and qualification, ensuring the adoption of its anode technologies in next-generation batteries.

"Blue Solutions is the only manufacturer in the market today producing and selling an all-solid-state lithium metal battery for real-life applications running on every continent, and this JD/CA will further enable Li-Metal to pioneer lithium metal anode technologies in next-generation batteries for the EV industry," said Maciej Jastrzebski, Li-Metal co-founder and CEO. "The partnership combines Li-Metal's high-performance low-cost sustainable lithium anode technologies with the know-how of a proven solid-state battery producer, and together, we will develop next-generation battery anodes that are more cost-effective, have increased performance and are more environmentally sustainable."

"We are proud to bring to this joint-development decades of experience with manufacturing and use of a metallic lithium anode in our unique Lithium-Metal-Polymer (LMP®) battery, still today and for over 20 years, the only All-Solid-State-Battery (ASSB) technology commercialized in the world," declared Alain Vallée, Blue Solutions Canada General Manager, whose team based near Montreal will work directly with Li-Metal on this endeavor. "We have the greatest confidence in the talent for innovation that the Li-Metal team will bring to this common development that will contribute in solidifying our position as the world leader in lithium metal anode design and production. We plan to qualify this upcoming optimized ultra-thin lithium metal anode to improve our current battery production as well as our next generation batteries in development for passenger EVs."