NIO Stock News – This is Why Lithium Stocks Are Rallying to Higher Highs
The electric vehicle story has only grown stronger. Not only are companies like Tesla ((NASDAQ:(TSLA))) and Nio Inc.(NYSE:NIO) benefiting, but so are companies like General Motors ((NYSE:GM)). In fact, General Motors just announced that it will phase out sales of internal combustion engines by 2035.
In addition, according to NBC News, “The auto industry is shifting from internal combustion technology to emissions-free battery and hydrogen powertrains. Several traditional brands have also committed to a complete transition, with Bentley recently laying out a target date of 2030 to switch entirely to battery-electric vehicles, or BEVs. Nissan this week said it will electrify all models by the ‘early 2030s,’ but that will include gas-electric hybrids as well as BEVs.”
But there’s a problem. As lithium demand accelerates, the world could run into a supply crunch. In fact, “A global push for EV adoption, helped by government subsidies and incentives, means that demand for lithium is not going away. Companies like Volkswagen, Ford, Mercedes and Amazon having started shifting their focus to electric vehicles,” reports Bloomberg.
That news is a major catalyst for lithium-related companies like Albemarle Corp. (NYSE:ALB) and E3 Metals Corp. (TSXV:ETMC)(OTC:EEMMF).
E3 Metals Corp. is Seeing Significant Catalysts
For one, E3 Metals Corp. an Alberta-based company that offers investors a chance to invest in a company with three defining traits:
– E3 Metals Corp. is sitting on a potentially large resource – reportedly the 7th largest current lithium resource in the world and largest in Alberta
– The Company resides in an excellent location – one that is optimal for permitting and operations with significant existing infrastructure, and…
– E3 Metals Corp. has developed a proprietary technology designed to consistently supply a pure lithium product to market in the midst of historic lithium demand.
– E3 Metals’ initial development plan is to produce 20,000 tonnes LCE/year with existing infrastructure in place, and an ability to scale up.
In addition, the company just announced the appointment of Mr. Kevin Stashin as an Independent Director to its Board, effective today.
Mr. Stashin is an oil and gas executive with over 40 years of industry experience with both junior and major companies, including Devon Canada Corporation, Anderson Exploration, and Petro-Canada. Most recently, he was the CEO of NAL Resources until its recent strategic combination with Whitecap Resources Inc. His expertise includes over 20 years as an executive in various business, technical and management roles including developing strategic direction, organizational effectiveness, reservoir development, new ventures, production, operations, and business development. Kevin and the companies that he has worked for have operated in Alberta and from within the same aquifer as E3 Metals’ Clearwater Lithium Project.
Mr. Stashin also serves as the Chair of the Board of the Petroleum Technology Alliance of Canada (PTAC), sits on the Clean Resources Innovation Board (CRIN), and was a member of the Board of Governors with the Canadian Association of Petroleum Producers (CAPP). He earned a Bachelor of Science in Engineering from McGill University and completed his M(BA) at the University of Calgary. He is currently a member of APEGA, APEGS, and the Society of Petroleum Engineers.
As part of the Company’s continual maturation, the E3 Metals announces the resignation of Mr. Paul Reinhart from the Board of Directors, effective today, but will remain as an Advisor to the Company. Mr. Reinhart was instrumental in assisting E3 Metals’ public listing in 2017 and has been a key member of the Board over the past nearly 4 years. The Company is extremely grateful for his service and assistance in cultivating E3 Metals.
CEO and Director, Chris Doornbos commented, “The appointment of Kevin Stashin marks a significant transition point as E3 Metals advances the Clearwater Project towards commercialization wherein new skill sets are required to provide guidance, support, and oversight at the Board level. We sincerely thank Mr. Reinhart for being part of E3’s success to this point.” Doornbos added, “We are thrilled to now welcome Mr. Stashin to our Board; Kevin’s expertise will be invaluable as we enter the next phase of E3 Metals.”
“I am thrilled to join the E3 Metals Board and be a part of this exciting venture. The demand for lithium is growing and E3 Metals has positioned itself to help meet that demand. This local diversification could have a substantial impact on the provincial economy and I am pleased to bring my skills from the oil and gas industry to the Company,” commented Kevin Stashin.
Paul Reinhart commented, “I am proud of the accomplishments of the entire E3 team in advancing this project to its next stage of development and believe the added strength of Kevin joining the Board is a testament to the progress we have made. I look forward to continuing to work with E3 Metals as an advisor.”
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