How Growing Adoption of Electric Vehicles and Energy Storage Systems are Boosting Growth in Lithium Industry

FinancialNewsMedia.com News Commentary

PALM BEACH, Fla., Sept. 26, 2023 /PRNewswire/ -- Rapid advancements in rechargeable batteries for laptops, mobile phones, electric vehicles, and digital cameras, are being driven by the growth in the Lithium-ion Battery (LIB) market. Rising demand for lithium batteries, lubricants, glass & ceramics, and foundry is expected to foster the growth of this market. The growing adoption of hybrid and electric vehicles, high-drain portable electronics, and energy storage systems have boosted the growth of the overall market. The increasing awareness of electric vehicles is attributable to the growing concerns about surrounding environmental pollution as EVs reduce carbon emissions. The Paris Agreement aims to reduce greenhouse gas (GHG) emissions by at least 40% under its 2030 climate and energy framework. Governments in several countries worldwide are implementing strict emission standards to reduce and control carbon emissions, thus augmenting market growth. In 2022, the market showed a sudden skyrocketing price of lithium commodity with the booming demand for Electric Vehicles (EVs) subsequently for the medium-term attributable to this market's demand and supply mechanism. A report from Fortune Business Insights projected that the global lithium market size was valued at USD 37.8 billion in 2022 and is projected to grow from USD 22.2 billion in 2023 to USD 89.9 billion in 2030 at a CAGR of 22.1% during the 2023-2030 forecast period. Indigo Exploration Inc. (OTCQB: IXIXF) (TSX-V: IXI), Tesla (NASDAQ: TSLA), Albemarle Corporation (NYSE: ALB), American Battery Technology Company (OTCQX: ABML) (NASDAQ: ABAT), Patriot Battery Metals Inc. (OTCQX: PMETF) (TSXV: PMET).

The Fortune Business Insights report continued: "The automobile industry is currently dominated by fossil fuel consumption but is increasingly moving toward becoming an alternate source of energy, such as lithium-ion-backed battery technology. The increasing demand for EVs and the shift toward clean energy will drive the product demand in the coming years. The automotive industry's evolution over the past few years will have a massive impact on the EV market. EVs are designed to replace conventional traveling methods owing to technological advancements, low carbon emission, low maintenance, smoother drive, the convenience of charging at home, reduced engine sound, and high fuel economy. EVs help reduce air pollution in densely populated areas and GHG emissions. The market in North America is likely to rise considerably during the lithium market forecast period. The increasing adoption of cleaner energy sources due to stringent regulatory rules is surging regional growth."

Indigo Exploration Inc. (OTCQB: IXIXF) (TSX-V: IXI) BREAKING NEWS: Indigo Expands Exploration Sampling Program to Guide Strategic Land Acquisitions - Indigo Exploration Inc. (the "Company") is pleased to announce it is significantly expanding its lithium brine exploration sampling program in Alberta, Canada. The expanded sampling program is designed to evaluate the lithium brine potential and grades from additional grounds being evaluated. The sampling ahead of an acquisition would de-risk the acquisition, providing greater certainty on potential grades and volumes, in addition to allowing for new properties to be potentially incorporated into various maiden resource estimates.

"There are a number of strategic parcels available from the Government that we are currently evaluating and the prudent sampling ahead of a potential acquisition provides greater certainty on its lithium brine potential" commented Paul Cowley, President & CEO of Indigo Exploration. "The ability to expand our property footprint also presents an opportunity to materially improve the size and quality of the maiden resources we aim to deliver on multiple projects." CONTINUED… Read this and more news for Indigo Exploration at: https://www.indigoexploration.com/news/news-2023

In other market news of interest:

Tesla, Inc. (NASDAQ: TSLA) recently announced that, in the second quarter, it produced nearly 480,000 vehicles and delivered over 466,000 vehicles. Tesla posted its financial results for the second quarter of 2023 after market close on Wednesday, July 19, 2023. At that time, Tesla it issued a brief advisory containing a link to the Q2 2023 update, which will be available on Tesla's Investor Relations website. Tesla management held a live question and answer webcast that day at 4:30 p.m. Central Time (5:30 p.m. Eastern Time) to discuss the Company's financial and business results and outlook.

Its net income and cash flow results were be announced along with the rest of our financial performance when we announced Q2 earnings. Tesla vehicle deliveries represent only one measure of the company's financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.

Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, recently announced that the U.S. Department of Defense has approved a $90 million grant to help support the expansion of domestic mining and the production of lithium for the nation's battery supply chain.

The funding will be provided by the Office of the Assistant Secretary of Defense for Industrial Base Policy, utilizing Defense Production Act authorities, and will be used to purchase a fleet of mining equipment as part of the company's planned reopening of its lithium mine in Kings Mountain, North Carolina.

The planned Kings Mountain mine contains one of the few known hard rock lithium deposits in the U.S. The site is expected to feed sufficient material for 50 kt LCE of conversion capacity and support the manufacturing initially of approximately 1.2 million electric vehicles annually.

American Battery Technology Company (OTCQX: ABML) (NASDAQ: ABAT), an integrated critical battery materials company that is commercializing its technologies for both primary battery minerals manufacturing and secondary minerals lithium-ion battery recycling, recently announced that it has received approval from Nasdaq to have its common stock listed on the Nasdaq Capital Market (Nasdaq) under the symbol "ABAT," with trading expected to commence on Thursday, September 21, 2023. Prior to listing on Nasdaq, the company's shares will continue to trade on the OTCQX under the stock symbol "ABML."

"We are excited to announce our uplisting to the Nasdaq exchange, which marks a significant milestone and enables us to unlock new opportunities for our stakeholders and position ABTC as a leader in commercializing technologies to secure domestic critical minerals to enable a closed-loop battery materials supply chain and circular economy," commented Ryan Melsert, chief executive officer of American Battery Technology Company. "This access to broader markets and partnership opportunities will allow us to accelerate the commercialization of our internally developed technologies as we execute on our long-term growth strategy and facilitate the transition to a clean energy economy."

Patriot Battery Metals Inc. (TSXV: PMET) (OTCQX: PMETF) recently provided an update on the ongoing 2023 summer-fall drill program being completed at its wholly owned Corvette Property (the "Property" or "Project"), located in the Eeyou Istchee James Bay region of Quebec. The Property hosts the CV5 Spodumene Pegmatite, with a maiden mineral resource estimate of 109.2 Mt at 1.42% Li₂O inferred¹ and is situated approximately 13.5 km south of the regional and all–weather Trans-Taiga Road and powerline infrastructure.

Since the completion of the winter drill program in April 2023 (through drill hole CV23-190), and the release of a maiden mineral resource estimate for the CV5 Spodumene Pegmatite (see news release dated July 30, 2023), drilling at the Property has focused on westerly step-outs and further delineation at CV5 (30 holes totalling ~10,757 m), as well as continued delineation at the CV13 Spodumene Pegmatite (20 holes totalling ~4,707 m).

DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated forty six hundred dollars for news coverage of the current press releases issued by Indigo Exploration Inc. by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

Contact Information:
[email protected]
+1(561)325-8757

SOURCE Financialnewsmedia.com