Alberta-based E3 Lithium gets $37M from feds to support oilfield lithium extraction

An Alberta-based company aiming to extract lithium from the province’s old oilfields has received $37 million from the federal government.

E3 Lithium has developed a technology to extract lithium, a light metal used to make EV batteries, from oilfield brines.

E3 Lithium has already drilled test wells within Alberta’s historic Leduc oilfield region. It aims to have a field pilot project up and running next year.

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Imperial Oil Ltd. has also invested in E3 Lithium and is providing technical and development support for the company.

The federal government has identified lithium as a focus of its $3.8-billion, eight-year critical minerals strategy.

The goal is to create a domestic supply chain for electric vehicles, boosting the economy while tackling greenhouse gas emissions at the same time.