EUROPEAN COMMISSION VICE PRESIDENT COMMITS TO €400M SUSTAINABLE BATTERY MATERIAL FUND Infinity Lithium Corporation Ltd (ASX: INF; "Infinity" or "the company") notes recent commentary from European Commission ("EC") Vice President Maroš Šefčovič which outlines the European Union ("EU") efforts to promote EU member states participation in the lithium-ion raw material supply chain.
Mr Šefčovič has announced plans for the European Battery Alliance ("EBA") to establish a public-private Battery Materials Fund and has also encouraged EU members states to urgently review, streamline and accelerate permitting procedures. Excerpts of the press conference are given below:
We know that the broad deployment of clean and digital technologies will lead to arising demand for raw materials............Europe is highly dependent on a limited number of non-EU countries, which often have lower environmental and social standards for these raw materials...........we are likely to see a global shortage of lithium, an essential ingredient of batteries............we must all throw our weight behind efforts to secure supplies of sustainable raw materials..............we must work at full tilt............
Member States to urgently review, streamline and accelerate their permitting procedures at national and regional levels............ we need to increase the efficiency and predictability of existing permitting procedures...........TheEuropean Battery Alliance has established a new public-private Sustainable Battery Materials Fund set to invest some 400 million euros...........The European Raw Materials Alliance has created a Clean Technology Materials Task Force
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