REG - European Lithium Ltd - Initial Funds From Greenpeg Secured

European LithiumAnnouncement

15/06/2020 08:35

RNS Number : 9450P
  
European Lithium Limited
  
15 June 2020
  
 

European Lithium Ltd
("European Lithium", "EUR" or "the Company")
EUROPEAN LITHIUM SECURES INITIAL FUNDS FROM GREENPEG, AN EU-COMMISSION FUNDED R&D PROJECT TO SUPPORT RAW LITHIUM SOURCED FROM EUROPE
Highlights
·     ECM AT GmbH, the 100% subsidiary of European Lithium Ltd has been approved as a member of the European Union funded GREENPEG program;
 
·     European Union's raw materials support shows strong commitment to develop EUR's Wolfsberg Lithium project in Austria; 
 
·     Strategic engagement in R&D for innovative exploration technologies under the leadership of University of Oslo, Norway;
 
·     Initial funds of €120k has been received ; and
 
·     A workprogram has been developed together with GeoUnterweissacher consultancy form Hochfilzen in Austria, who will excecute the work program together with ECM. 
 
 
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."
 
 
Tony Sage

Non-Executive Chairman
European Lithium Limited 
- END -
 
 
Visit the Company's website (www.europeanlithium.com) to find out more about the advanced Wolfsberg Lithium Project located in Austria.
For further information please contact:



European Lithium Ltd


+61 861 819 792




Tony Sage


ir@europeanlithium.com
 




NEX Corporate Adviser


+44 207 220 1666




James Joyce








James Sinclair-Ford







 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
  END
 
 
NEXGRGDLDBBDGGU