Ancoris Advises Lithion
Ancoris Advises Lithion
About the transaction
Ancoris acted as the exclusive financial advisor on Lithion’s C$21 million raise in equity Lithion Recycling.
About the Company
Lithion is a lithium-ion battery recycling company that has developed an efficient and cost-effective process to recover and treat over 95% of battery components.
Lithion is among very few companies worldwide that has developed a complete, fully operational and sustainable solution for lithium-ion battery recycling.
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Lithion website https://www.lithiontechnologies.com/
GM is aggressively scaling battery cell and EV production in North America to reach our target of more than 1 million units of annual capacity by 2025, and we plan to eliminate tailpipe emissions from all our new light-duty vehicles by 2035 – so we are building a supply chain and recycling strategy that can grow with us. In Lithion’s technology, we see the opportunity to recover and reuse raw material in our Ultium battery packs, making the EVs we produce even more sustainable and helping drive down costs.
Jeff Morrison, GM Vice President, Global Purchasing and Supply Chain
Investment
Ancoris’ financing process resulted in an oversubscribed offering, with Lithion raising a total of C$21 million in equity. Ancoris secured for Lithion a combination of value-add strategic investors and financial investors to participate in the financing.
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