Pure Lithium, a Boston-based battery technology company, announced plans to develop its first industrial-scale manufacturing facility. The company received a letter of interest for $300 million in debt financing from the Export-Import Bank of the United States, or EXIM, to support the project.
Pure Lithium’s technology melds metal extraction and anode production, allowing the company to bypass the production of traditional lithium compounds. Its pure lithium metal anode is the core of its lithium metal vanadium oxide battery, an energy solution designed to improve cost, safety and cell performance.
The company’s financing from EXIM coincides with the bank’s Make More in America initiative, which is aimed at strengthening U.S. manufacturing in sectors crucial to national security. The initiative focuses on enhancing supply chain resilience and creating equal opportunities for U.S. companies in global markets.
“This project will be very impactful for U.S. manufacturing in the crucial sector of energy storage,” Emilie Bodoin, founder and CEO of Pure Lithium, said in a statement. “Our disruptive Brine to Battery technology will enable the creation of the first complete U.S.-based battery supply chain, from sourcing the materials to producing the finished product. Domestic battery production is imperative for U.S. energy and national security.”
