The firm, which controls battery recycler Li-Cycle Corp, has now raised nearly $133 million between its two rounds of funding.

The Canadian miner said it wants to achieve a zero-carbon footprint at both its Phase 1 anode materials plant and its Matawinie graphite project in Québec.

The Vancouver-based miner says quartz-rich volcanic tuffs containing anomalous amounts of lithium occur within the Sarcobatus Valley, where Bonnie Claire is located.

The London-listed company aims to decrease its reliance on coal and steel and attract a broader base of investors by adding more battery metals.

Canadian startup Li-Cycle Corp. plans a third battery-recycling facility in North America.

Lithium, the mainstay for rechargeable power packs used in EVs, is roaring back after a three-year slump in prices.

Drilling started in late 2020 to add eight production wells at the lithium project, with the first two completed.