Connect with us

Hi, what are you looking for?

Economy

Edison Lithium: Transitioning to Sodium-ion Battery Technology

Edison Lithium (TSXV:EDDY) is pivoting towards sodium-ion battery technology while maintaining interests in lithium assets in Argentina. The company is divesting its cobalt projects in Canada via a spin-off into a new publicly listed company, Edison Cobalt. After the spin-off, Edison Lithium will comprise two divisions: Edison Saskatchewan and Edison Lithium.

Edison Saskatchewan will focus on advancing the company’s ambition to become a significant participant in the sodium-ion battery technology supply chain. The company acquired four alkali dispositions from Globex Mining Enterprises in August 2023 that encompass 4,564 acres located in Ceylon Lake, Freefight Lake, and the north and south areas of Cabri Lake, in Saskatchewan, Canada.

The Edison Lithium division comprises nearly 28,766 hectares of lithium brine claims located in Catamarca, Argentina. Edison Lithium retains eight mining claims, mostly located in the Pipanaco Solar basin in Catamarca.

Company Highlights

Edison Lithium is a Canadian junior mining company that is pivoting towards sodium-ion battery technology. The company is restructuring its business by divesting lithium and cobalt assets while acquiring concessions for alkali that hosts sodium sulphate.The company acquired lithium assets in Argentina in 2021, comprising 148,000 hectares of lithium brine claims, but has sold 80 percent of these claims for three times their purchase price in December 2023. It continues to hold 20 percent, or 28,766 hectares, of lithium brine claims. The transaction corresponds with the company’s strategic shift towards sodium-ion technology.The company has received approval to spin off its cobalt project located in Ontario, Canada, into a new company, Edison Cobalt, which will be listed on the TSXV.After the realignment, the company will comprise two divisions – Edison Lithium, focused on the remaining lithium claims in Argentina; and Edison Saskatchewan, focused on alkali dispositions in Saskatchewan, Canada.The alkali dispositions were acquired in August 2023 from Globex Mining Enterprises. This move underscores the company’s strategic positioning in the burgeoning sodium-ion battery market, which is increasingly seen as a promising alternative to traditional lithium-ion batteries.

This Edison Lithium profile is part of a paid investor education campaign.*

Click here to connect with Edison Lithium (TSXV:EDDY) to receive an Investor Presentation

This post appeared first on investingnews.com

You May Also Like

Editor's Pick

On April 23, 1985, the Coca-Cola Company made one of the biggest mistakes in American business history: it changed the formula for Coca-Cola. Outraged...

Editor's Pick

The final December results from the University of Michigan Surveys of Consumers show overall consumer sentiment improved for the month but remains near historically...

Editor's Pick

For years the North Korean playbook was obvious to the world. The Democratic People’s Republic of Korea wanted to be the center of attention....

Editor's Pick

Sales of new single-family homes rose again in November, increasing 5.8 percent to 640,000 at a seasonally-adjusted annual rate from a 605,000 pace in...