Lake Resources NL Stock Market Press Releases and Company Profile

View in Other Languages Lake Resources NL (ASX:LKE) and Ford Motor Company Sign Non-Binding MoU for Lithium Offtake Lake Resources NL (ASX:LKE) y Ford Motor Company firman un memorando de entendimiento no vinculante para la extracción de litio Lake Resources NL (ASX:LKE) dan Ford Motor Company Menandatangani MoU Tidak Mengikat untuk Lithium Offtake Lake Resources NL (ASX:LKE) und Ford Motor Company unterzeichnen eine unverbindliche Absichtserklärung zur Abnahme von Lithium Lake Resources NL (ASX:LKE) e Ford Motor Company assinam memorando de entendimento não vinculativo para aquisição de lítio Lake Resources NL (ASX:LKE) et Ford Motor Company signent un protocole d'entente non contraignant pour le prélèvement de lithium Lake Resources NL(ASX:LKE)とFordMotorCompanyがリチウムオフテイクの拘束力のない覚書に署名 Lake Resources NL (ASX:LKE)과 Ford Motor Company, 리튬 판매를 위한 구속력 없는 MOU 체결 Lake Resources NL (ASX:LKE) 和福特汽车公司签署非约束性锂采购谅解备忘录 Lake Resources NL (ASX:LKE) и Ford Motor Company подписали необязательный меморандум о взаимопонимании по закупке лития Lake Resources NL (ASX:LKE) และ Ford Motor Company ลงนาม MoU แบบไม่ผูกมัดสำหรับ Lithium Offtake 

Lake Resources and Ford Motor Company sign non-binding MoU to negotiate for lithium offtake from the Kachi Project

Lake and Ford sign non-binding MoU for lithium offtake
Lake and Ford sign non-binding MoU for lithium offtake

Sydney, April 11, 2022 AEST (ABN Newswire) - Clean lithium developer Lake Resources NL (googlechartASX:LKE) (googlechartLK1:FRA) (googlechartLLKKF:OTCMKTS) advises an offtake of approximately 25,000 tonnes per annum (tpa) of lithium from the Kachi Project has been signed in a non-binding Memorandum of Understanding (MoU) with Ford Motor Company (Ford).

- Offtake proposal for approximately 25,000 tonnes per annum (tpa) of lithium from the Kachi Project in a non-binding agreement with Ford Motor Company.

- Strategic collaboration between Ford and Lake to sit alongside the collaboration with Hanwa (ASX release 29 March 2022) to fully develop a Clean Lithium Supply Chain to meet the global environmental demands for Electric Vehicles.

- Second non-binding MoU offtake collaborator, further de-risking the project for financiers and investors.

"As we've shared, Ford is sourcing deeper into the battery supply chain," said Lisa Drake, Ford's vice president, EV Industrialization.

"This is one of several agreements we're exploring to help us secure raw materials to support our aggressive EV acceleration," she said.

"Both Lake and Ford see this as an opportunity for a potential long-term agreement with the ability to scale up environmentally responsible production and participate in Lake's other projects to ensure high-quality lithium products are available to Ford," Steve Promnitz, Lake's Managing Director, said.

"This MoU with Ford supports Lake's strategy to be a key independent supplier into global lithium supply chains and ensure the security of supply to customers."

Lake's Chairman Stu Crow said project financing was becoming increasingly tied to ESG credentials and that investors, debt providers, and off-takers and their customers are demanding that new lithium projects adhere to strict ESG standards.

"Increasing customer and consumer scrutiny around lithium production's environmental and ethical credentials drives our focus on sustainable extraction," Crow said.

"Lake Resources is committed to integrating sustainable development practices throughout our operations, minimising our environmental footprint, and contributing to a clean energy future.

"This MoU with Ford follows the Hanwa MoU. Together with the UK and Canada Export Credit Agencies' indicative provision of debt finance for around 70 percent of the Kachi project's capital requirements, this provides a framework of support for Lake's TARGET 100 Program, which has the goal of producing annually 100,000 tonnes of high purity lithium chemical to market by 2030," he said.

Ford has consented to this market release. Lake will update the market on progress on the implementation of the MOU with Ford as soon as it is able to do so.



About Lake Resources NL

Lake ResourcesLake Resources NL (ASX:LKE)  (OTCMKTS:LLKKF) is a clean lithium developer utilising state-of-the-art ion exchange extraction technology for production of sustainable, high purity lithium from its flagship Kachi Project in Catamarca Province within the Lithium Triangle in Argentina among three other projects covering 220,000 ha.

This ion exchange extraction technology delivers a solution for two rising demands - high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits.

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Contact

Steve Promnitz
Managing Director
T: +61-2-9188-7864
steve@lakeresources.com.au

For media queries, please contact:
Nigel Kassulke at Teneo
M: +61-407-904-874
E: Nigel.Kassulke@teneo.com



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