Lake Resources Reports Positive Novonix Battery Results
Lake Resources NL (ASX: LKE; OTC: LLKKF) yesterday reported that its high-purity lithium has performed strongly within Novonix’s lithium ion batteries. Novonix is seen by the market as a key battery and technology partner to Tesla. While an important result for Lake Resources, the company also appears to be well positioned as electric vehicle manufacturers demand responsibly-sourced lithium with a lower carbon footprint. With the investment community also heavily focused on environment, social and governance principles (ESG), the pressure is on all elements of the battery chain to adhere to ESG principles to align themselves strongly with the electric vehicle manufacturers. With global valuations for lithium companies being driven into the billions of dollars by higher lithium prices and excessive demand metrics, the key for Lake moving forward is project funding and tier one partnerships.
ShareCafe’s Tim McGowen spoke with the CEO of Lake Resources, Stephen Promnitz, about this exciting development.