European Lithium Ltd’s (ASX:EUR) (FRA:PF8) (VIE:ELI) 100% subsidiary, ECM Lithium AT GmbH, is among a consortium of 17 entities to have passed the first evaluation stage for funding from the EU Research and Innovation program, Horizon 2020.
The 17 entities comprise of research institutes and technology development organisations, specialised SMEs and three European lithium-mineral miners (of which ECM is one).
The consortium’s proposal was submitted in February under the call topic, Innovative Technologies for the Extraction of Lithium from European Lithium Ore Resources (LithOs), seeking €4.9 million EU funding.
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European Lithium non-executive chairman Tony Sage said: “Europe recognises the importance that technology plays in the lithium-minerals industry and this funding program is further evidence that the EU Commission agree and are willing to support local industry.
“We look forward to receiving the results of the final evaluation later in the year.”
Technologies to progress European lithium production
LithOs aims to develop innovative, proprietary technologies that would make European lithium production more competitive and self-sustainable.
There are a number of participants in the Horizon 2020 program and strong competition has resulted in a success rate of less than 10% for submissions.
The second and final evaluation stage for LithOs will take place in the third quarter of this year.
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European Lithium is well advanced on the path to beginning production from its Wolfsberg Lithium Project in Austria in 2020.
The company’s participation in Horizon 2020 is an example of its continuous effort to be part of the development of innovative lithium technologies to advance its projects and take a leading position among its peers.