Green Technology Metals Secures A$8 Million Investment from South Korea’s EcoPro Innovation
Green Technology Metals Limited (ASX: GT1) has announced a significant partnership with South Korean EV battery metals producer EcoPro Innovation Co., Ltd., which includes a A$8 million corporate equity investment. This collaboration supports GT1’s goal of becoming Ontario’s first integrated lithium producer, with agreements covering both upstream (mining and raw material extraction) and downstream (processing and conversion) activities.
The partnership includes potential collaboration on the development of lithium mines and a proposed Lithium Conversion Facility in Canada. EcoPro's investment was made at a significant premium, demonstrating strong confidence in GT1’s assets and strategy.
Key highlights of the agreement include:
- A two-tranche placement for the A$8 million investment, made at a 40% premium to the 90-day VWAP.
- Exclusive rights for EcoPro to negotiate asset-level investments in GT1’s Seymour and Root mine developments over the next 12 months.
- A Pre-Feasibility Study (PFS) Cooperation Agreement to co-fund and execute the PFS on the proposed Lithium Conversion Facility, with plans to move towards a Definitive Feasibility Study (DFS) and joint venture for co-development.
EcoPro brings significant expertise in lithium hydroxide production and patented lithium extraction technology, bolstering GT1's strategy to become a leading supplier of lithium concentrates and chemicals in Ontario. The partnership also includes a joint funding application to Invest Ontario for government support on the proposed Lithium Conversion Facility.
GT1 CEO expressed optimism about the partnership, highlighting the strategic value EcoPro brings with its global scale and expertise in manufacturing battery-grade lithium chemicals.
