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Stellantis Paves the Way for a Greener Future: A $100M Investment in Lithium Project

In the pursuit of a sustainable future, Stellantis, the esteemed parent company of Chrysler and Jeep, has made a groundbreaking announcement. The company is investing over $100 million in California’s Controlled Thermal Resources, a direct lithium extraction (DLE) project. This strategic move aligns with the green energy transition and the U.S Inflation Reduction Act, addressing the rising concerns about the availability of lithium for electric vehicle (EV) batteries.

Unlike conventional methods, DLE technology steers clear of environmentally harmful open pit mines and evaporation ponds for lithium extraction. Stellantis has further demonstrated its commitment to green energy by pledging to increase the quantity of lithium procured from Controlled Thermal, hiking an earlier order to 65,000 metric tons annually for a minimum of ten years, starting from 2027.

Controlled Thermal CEO, Rod Colwell, has hailed this investment as a "significant step towards developing this key project". The company plans to invest over $1 billion to segregate lithium from the scorching geothermal brines found under California’s Salton Sea. This move is expected to significantly reduce carbon emissions during lithium production, thanks to the utilization of renewable energy.

From an investor perspective, this development signals three key insights:

1. The EV market is poised for rapid growth, with major players like Stellantis making significant investments in lithium, a critical component for EV batteries.

2. The focus on sustainable and green energy solutions is more than just a trend; it's becoming a core business strategy.

3. Companies adopting environmentally friendly technologies like DLE are likely to gain a competitive edge in the market, reflecting positively on their stock value.

Join us as we delve deeper into the market implications of these developments. Contact us for more insights and analysis.

Remember, the future of innovation is green. Stay informed, stay ahead.



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