Ancoris Advises Lithion
Ancoris Advises Lithion
About the transaction
Ancoris acted as the exclusive financial advisor on Lithion’s C$32 million raise in equity for 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.
For more information, please visit
Lithion website https://www.lithiontechnologies.com/
We are very pleased to confirm today the Quebec government’s participation in our project to build a commercial lithium-ion battery recycling plant and a Technology Development Center. Lithion aims to provide the industry with the sustainable development technology required to build a circular economy for batteries. Technological advances and process optimization effected in our demonstration plant over the past two years increased the attractiveness to global players in the transportation electrification ecosystem who want to license the Lithion solution to address the needs of their local markets. We are entering an exciting phase of our business development here, in Asia, and, soon, in the US and Europe.
Benoit Couture, Lithion CEO
Investment
Ancoris’ financing process resulted in an oversubscribed offering, with Lithion raising a total of C$32 million in equity in a follow-on financing. Ancoris also brought in several value-add strategic investors and financial investors to participate in the financing.