U.S. grant of $700,000 awarded by LibertyStream and Wellspring Hydro for lithium refining project, supported by the state of North Dakota; Funding comes from a $7.5 million pre-approved state-funded grant and loan facility
In a significant move towards accelerating critical minerals development within the U.S., the State of North Dakota has awarded a grant of $700,000 to LibertyStream Infrastructure Partners Inc. This funding will support the development and deployment of a commercial lithium carbonate refining unit capable of producing up to 10 tonnes per annum of industrial and battery-grade lithium carbonate.
The grant, drawn from a US$4.2 million pool available for future drawdown from the North Dakota State backed grant and loan facility, is part of a US$7.5 million North Dakota State Funded Facility that has been utilized by LibertyStream and its partner, Wellspring Hydro, to advance direct lithium extraction (DLE) initiatives within the State of North Dakota.
The purpose and significance of this grant are multifold. It aims to accelerate the adoption of renewable energy technologies and critical minerals development in the U.S., aligning with North Dakota’s strategic goals. The grant also supports local businesses and leverages North Dakota's workforce capabilities, as it forms part of a broader $10 million state-backed grant and loan facility managed via Wellspring Hydro.
Strengthening the domestic supply chain for critical minerals, particularly lithium, which is vital for battery production and electric vehicles, is another key objective. By reducing reliance on foreign sources, this grant contributes to energy security and economic growth in North Dakota.
The grant also enables LibertyStream to provide bulk lithium carbonate samples to customers, which are essential for negotiating future offtake agreements—key for scaling up commercial lithium production. Furthermore, it demonstrates confidence in LibertyStream’s proprietary direct lithium extraction technology, which aims to sustainably produce lithium by harnessing established resources in North Dakota and other U.S. formations.
The refining unit, a result of LibertyStream's partnership with Wellspring Hydro, will be initially deployed in LibertyStream's facility in Texas. Plans are in place to relocate it to North Dakota after the commercial DLE facility in the Williston Basin is operational. The Options vest over a six-month period and are exercisable at $0.23 per Share for four years from the date of grant, expiring on August 11, 2029.
Eamon Hurley, a Partner at Cassels Brock & Blackwell LLP and former Canadian General Counsel to Unocal Corporation, has been appointed as Corporate Secretary for LibertyStream Infrastructure Partners Inc. In recognition of his contributions, LibertyStream is granting Mr. Hurley 250,000 options under its omnibus equity incentive plan. Cassels acts as Corporate Counsel to the Company.
This grant not only provides capital support but also signifies state-level commitment to fostering a domestic critical minerals industry through innovative technology and partnerships, promoting energy security and economic growth in North Dakota.
The grant provision is part of a North Dakota State-funded facility, worth $7.5 million, aimed at accelerating the adoption of renewable energy technologies and critical minerals development, including lithium. This funding also supports the development and deployment of a technology, direct lithium extraction (DLE), for the sustainable production of lithium in North Dakota.
