OAKLAND, Calif., October 19, 2022 — Lilac Solutions (“Lilac”), a lithium extraction technology company, announced today that it was selected to negotiate a $50 million grant award from the U.S. Department of Energy (“DoE”)’s Office of Manufacturing and Energy Supply Chains (“MESC”) and Office of Energy Efficiency and Renewable Energy (“EERE”) to advance domestic lithium production.

Lilac has developed a groundbreaking ion-exchange technology to increase production of lithium from brine resources with minimal environmental impact and streamlined project development timelines. Electric vehicle (EV) producers are facing sustained, record-high prices and long-term shortages of lithium raw materials as conventional technologies for lithium production fail to keep pace with demand.

The award, which remains subject to negotiation of a definitive funding agreement, will be used by Lilac to build out domestic manufacturing capacity for the company’s patented lithium extraction materials, and to develop domestic lithium projects. With this funding, Lilac will unlock lithium production from domestic resources to support the growth of a domestic lithium-ion battery supply chain and support U.S. leadership in the green-energy transition.

“We are honored that Lilac has been selected for this award by the DoE,” said Dave Snydacker, Lilac’s CEO. “We strongly believe our unique technology will play a critical role in strengthening the domestic lithium-ion battery supply chain. The development of Lilac’s U.S. operations, which range from materials manufacturing to lithium production, will be turbocharged by this significant award.”