Li-Metal Named to TIME's Best Inventions of 2023 List

TORONTO, ON / ACCESSWIRE / October 24, 2023 / Li-Metal Corp. (CSE:LIM)(OTCQB:LIMFF)(FSE:5ZO) ("Li-Metal" or the "Company"), a developer of lithium metal anode and lithium metal production technologies critical for next-generation batteries, today announced its patented lithium metal technology has been named one of TIME's Best Inventions of 2023. The annual list features 200 extraordinary innovations changing how people live and think about what is possible.

Lithium metal is a strategic material critical in the production of metal anodes, which are integral to next-generation lithium batteries. Li-Metal's carbonate-to-metal (C2M) technology is expected to play an increasingly important role in the development of the North American lithium metal supply chain. The Company's C2M technology addresses the need for an environmentally friendly and sustainable process for lithium metal production capacity, as demand is expected to increase by 10 fold by 2030 to more than 40,000 tonnes, according to McKinsey. The ability to produce lithium metal is a key differentiator for Li-Metal as a battery anode supplier as it further enables the growth and development of its anode business by securing a reliable feedstock.

Traditionally, lithium metal has been produced using lithium chloride as feedstock, which generates approximately five tonnes of harmful chlorine gas by-product for every tonne of lithium metal produced. Lithium chloride is typically made by treating lithium carbonate; however, Li-Metal's patented C2M, modular lithium metal technology can eliminate this costly conversion step, which is detrimental to the environment, by producing metal directly from lithium carbonate. In May, 2023, Li-Metal likely became the first company in the world to successfully produce lithium metal directly from lithium carbonate at its pilot plant in Markham, Ontario. Ultra-thin, high-performance anode materials are critical for the development of North America's next-generation battery supply chain, and securing a supply of lithium metal using environmentally friendly production processes is expected to accelerate the growth of the lithium metal anode market.