Wednesday, June 19, 2024
NewsStellantis Boosts US Lithium Production Through $100M Investment in CTR's Geothermal Project

Stellantis Boosts US Lithium Production Through $100M Investment in CTR’s Geothermal Project

Stellantis invests over $100 million in CTR’s Hell’s Kitchen geothermal lithium project, supporting sustainable BEV supply chains.

 

  • Stellantis invests over $100 million in CTR’s Hell’s Kitchen geothermal lithium project.

  • The investment includes an expanded supply agreement, aiming to provide up to 65,000 metric tons of lithium hydroxide monohydrate annually.


 

Stellantis has committed an investment exceeding $100 million to support Controlled Thermal Resources Holdings Inc.’s (CTR) Hell’s Kitchen project, a pioneering geothermal lithium endeavor based in California. This investment contributes to the advancement of low emissions lithium production in the United States, aligning with Stellantis’ commitment to cleaner energy solutions and sustainable mobility.

The new STLA Medium platform. | Photo : Stellantis.

This strategic investment is aimed at furthering the development of CTR’s Hell’s Kitchen, a project that stands as the largest geothermal lithium initiative globally. With the capacity to produce up to 300,000 metric tons of lithium carbonate equivalent annually, the lithium extracted from Hell’s Kitchen will qualify Stellantis’ battery-electric vehicles for consumer incentives under the U.S. Inflation Reduction Act.

The new STLA Medium platform. | Photo : Stellantis.

In addition to the investment, Stellantis and CTR have expanded their supply agreement. Under the new terms, CTR will supply up to 65,000 metric tons of battery-grade lithium hydroxide monohydrate each year over a 10-year contract period. This revised agreement builds upon the initial arrangement formed in June 2022, which initially aimed to provide up to 25,000 metric tons of lithium hydroxide monohydrate per year.

The new STLA Medium platform. | Photo : Stellantis.

CTR’s groundbreaking Hell’s Kitchen project, situated in California’s Imperial County, employs an environmentally conscious approach to lithium extraction. Using renewable energy and steam, this innovative process eliminates the need for traditional methods involving evaporation brine ponds, open pit mines, and fossil-fueled lithium processing.

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Carlos Tavares, CEO of Stellantis, emphasizes the significance of low-emissions production and sustainable supply in the company’s decarbonization drive. He states, “The latest agreement with CTR is an important step in our care for our customers and our planet as we work to provide clean, safe, and affordable mobility.”

The new STLA Medium platform. | Photo : Stellantis.

As part of the Dare Forward 2030 strategic plan, Stellantis is committed to achieving a 100% passenger car BEV sales mix in Europe and a 50% passenger car and light-duty truck BEV sales mix in the United States by 2030. With the Hell’s Kitchen project, Stellantis is advancing its sustainable mobility goals while supporting job creation and minimizing its carbon footprint.

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