Connect with us

Technology

LG Energy Solution and Liontown Resources agree on long-term strategic partnership, securing lithium supply chain and future growth opportunities

Published

2 years ago

on

SEOUL, South Korea, July 2, 2024 /PRNewswire/ — LG Energy Solution (KRX: 373220) and Liontown Resources Limited (Liontown) today entered into a strategic partnership aimed at fortifying their long-term collaboration in the global lithium sector. 

The companies signed a convertible note subscription agreement, an extended offtake agreement for the supply of high-quality lithium spodumene from Liontown’s Kathleen Valley project, and a downstream collaboration agreement to explore the feasibility of establishing a lithium refinery which has the potential for long-term value creation.

The partnership between LG Energy Solution and Liontown signifies a mutual commitment to advancing sustainable and stable lithium solutions globally and underscores the companies’ shared commitment to innovation and value creation.

The agreement will be formalised at a ceremony scheduled to take place on July 4th at LG Energy Solution headquarters in Seoul, Korea.

Key terms of the Strategic Partnership: [1]

Liontown extends LG Energy Solution’s existing 5-year offtake agreement by an additional 10 years (15 years total). The agreement will now provide 700kt of spodumene concentrate over the first 5 years and 1,500kt spodumene concentrate over years 6 to 15 (in aggregate). This extension also includes a commitment to make up to 250kt spodumene concentrate available over the first 10 years (2.45Mt in total); Downstream collaboration agreement to commence feasibility studies to establish an IRA-compliant lithium refinery, aimed at processing spodumene from Kathleen Valley into battery-grade lithium chemicals[2];LG Energy Solution will invest US$250 million (A$379 million[3]) through Convertible Notes. The funding from LG Energy Solution will underpin the production ramp-up of Liontown’s world-class Kathleen Valley Project in Western Australia. First production of lithium spodumene concentration from Kathleen Valley is anticipated by the end of July.

LG Energy Solution’s Chief Executive Officer, David Kim, said:

“The agreement represents another significant step in our value chain investment strategy aimed at enhancing its resilience to market uncertainties.

By partnering with strong players like Liontown, we will continue to secure stable supply of IRA-compliant critical minerals, fulfilling our efforts to provide competitive power solutions for electrification.”

Liontown Resources’ Chairman, Tim Goyder, said:

“Liontown is very pleased to formalise this strategic partnership with LG Energy Solution, one of the world’s leading battery producers, marking a significant milestone in our journey towards becoming a globally significant supplier of battery minerals as the world transitions to a low-carbon future.

This partnership and investment is consistent with our downstream refining strategy to capture the value of vertical integration and deliver substantial value to our shareholders and key stakeholders over the long term.”

[This announcement has been approved for release by the Board of Directors of Liontown Resources Limited]

#  #  #

About LG Energy Solution

LG Energy Solution (KRX: 373220), a split-off from LG Chem, is a leading global manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems. With 30 years of experience in revolutionary battery technology and extensive research and development (R&D), the company is the top battery-related patent holder in the world with over 58,000 patents. Its robust global network, which spans North America, Europe, and Asia, includes battery manufacturing facilities established through joint ventures with major automakers. Committed to building sustainable battery ecosystem, LG Energy Solution aims to achieve carbon neutrality across its value chain by 2050, while embodying the value of shared growth and promoting diverse and inclusive corporate culture. To learn more about LG Energy Solution’s ideas and innovations, visit https://news.lgensol.com.

About Liontown Resources

Liontown Resources (ASX:LTR) is an emerging Tier-1 battery minerals producer. Our aim is to be an ESG leader and a globally significant provider of battery minerals for the rapidly growing clean energy market. As we transition from developer to producer, we are committed to incorporating the right approach and foundation from the outset and ESG principles underpin all decisions. We currently control two major lithium deposits in Western Australia and aim to expand our portfolio through exploration, partnerships and acquisitions. In addition, we look to participate in downstream value-adding where control of the deposit provides a strong competitive advantage. To learn more, please visit: www.ltresources.com.au

[1] For further information on the terms of the strategic partnership, please refer to Liontown’s ASX Announcement

[2] Subject to separate investment decisions to approve execution of the refinery and Kathleen Valley 4 Mtpa expansion

[3] Notes are denominated in US$, A$ equivalent face value at 0.66 exchange rate

 

View original content:https://www.prnewswire.com/news-releases/lg-energy-solution-and-liontown-resources-agree-on-long-term-strategic-partnership-securing-lithium-supply-chain-and-future-growth-opportunities-302187729.html

SOURCE LG Energy Solution

Related Topics:
Continue Reading

Technology

STEPHEN A. SMITH ADDRESSES WHITE HOUSE DINNER ATTENDANCE, REAFFIRMS COMMITMENT TO HBCUs AND PROTECTING CORPORATE INVESTMENT IN BLACK EDUCATION

Published

28 minutes ago

on

October 24, 2026

By

NEW YORK, Oct. 23, 2026 /PRNewswire/ — Stephen A. Smith, media mogul, New York Times bestselling author, and proud 1991 graduate of Winston-Salem State University, is addressing the public discussion surrounding his decision to attend a White House dinner with President Donald Trump, emphasizing his commitment to the long-term financial stability of Historically Black Colleges and Universities (HBCUs).

For Smith, the decision was rooted in a commitment to institutions that have educated generations of Black leaders, professionals, entrepreneurs, and public servants.

“I will always advocate for HBCUs and the students whose futures depend on them,” Smith said. “My reason for attending the White House dinner was to discuss the challenges these institutions face in securing long-term funding and to make the case that corporate America must continue to invest in them.”

Smith acknowledged federal support through the FUTURE Act while expressing concern that political tensions surrounding diversity, equity, and inclusion (DEI) could discourage private companies from supporting HBCUs. He maintains that these institutions deserve sustained corporate partnerships, philanthropic contributions, and public investment.

“If we truly believe in free-market capitalism, businesses should be able to support educational institutions and charitable causes without fear of criticism or repercussions,” Smith said. “HBCUs have made extraordinary contributions to this country. They deserve sustained public and private investment.”

Ashley Christopher, Esq., Founder and CEO of the HBCU Week Foundation, recognized Smith’s advocacy and decision to engage with the administration.

“Stephen A. Smith has been a powerful advocate for HBCUs, using his platform and influence to shine a national spotlight on our institutions,” expressed Christopher, “His continued support of HBCU Week helps advance our mission of connecting students with life-changing educational opportunities, and we are proud to have him as our ambassador.”

Since Smith became an HBCU Week Ambassador in 2019, the initiative has facilitated more than 15,000 on-the-spot college acceptances and raised and awarded more than $150 million in scholarships, according to the HBCU Week Foundation.

As public discussion continues, Smith is emphasizing the importance of ensuring HBCUs have the resources and partnerships needed to educate future generations and expand opportunities for students.

CLICK HERE to watch Smith’s full response to his White House visit.

MEDIA CONTACT:

media@mrsasinc.com

View original content:https://www.prnewswire.com/news-releases/stephen-a-smith-addresses-white-house-dinner-attendance-reaffirms-commitment-to-hbcus-and-protecting-corporate-investment-in-black-education-302918547.html

SOURCE Straight Shooter Media

Continue Reading

Technology

Advantex Announces Completion of Financing and Extension of Maturity Date of Previously Issued Debentures

Published

28 minutes ago

on

October 24, 2026

By

TORONTO, Oct. 23, 2026 /CNW/ — Advantex Marketing International Inc. (CSE: ADX) (“Advantex”), a leader in the merchant cash advance and loyalty marketing products for merchants, today announced the completion of a $250,000 secured debt financing. Advantex issued a $250,000 non-convertible debenture which bears an interest rate at 12% per annum and matures December 15, 2027. The proceeds raised from this issuance of the Debenture will be used for working capital purposes.

Advantex has also extended the maturity of its existing $700,000 in 12% secured debentures from October 10, 2026 to December 15, 2027.

About Advantex Marketing International Inc.

Advantex provides working capital to merchants. Advantex also provides specialized marketing programs that enable members of Aeroplan to earn Aeroplan points at participating merchants.

Advantex shares trade on the Canadian Securities Exchange under the symbol ADX. For more information go to Advantex’s profile on www.sedar.com

Forward-Looking Information

This news release contains “forward-looking statements” within the meaning of applicable securities laws relating to the future business and operations of Advantex. Actual results and developments may differ materially from those contemplated by these statements. The business and operations of Advantex described herein is dependent on a number of factors and is subject to a number of risks and uncertainties. Factors that could cause actual results to differ material include, but are not limited to, changes in Advantex’s economic and competitive conditions including but not limited to the industry sectors in which Advantex operates.

The statements in this news release are made of the date of this release. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date the statements are made and Advantex undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.

SOURCE Advantex Marketing International Inc.

Continue Reading

Technology

Club Offers for Travel Enthusiasts in Canada

Published

1 hour ago

on

October 23, 2026

By

TORONTO, Oct 23, 2026 /PRNewswire/ — Travelzoo® (NASDAQ: TZOO), the club for travel enthusiasts, announces three of many new Club Offers for Club Members in Canada.

Rigorously vetted and negotiated for us travel enthusiasts:

$799—COSTA RICA WEEK WITH FLIGHTS & CAR
We think fall is an ideal time to visit Costa Rica; the scenery is lush and the crowds are gone. Drive between volcanic Arenal and the idyllic beaches of Tamarindo on this seven-night trip. Since it’s not as busy, we were able to negotiate a price that saves members up to $648 on departures through mid-December.

$899—BARCELONA: 5 NIGHTS WITH FLIGHTS
Explore Barcelona’s world-class museums and architectural masterpieces in the quieter winter months to pack more into your trip. You won’t waste hours in lines and can access top restaurants that are fully booked in summer. We save $300 on travel this January and February, when temperatures are still spring-like. Roundtrip flights from Toronto, hotel and daily breakfast are included.

$999—ST. KITTS GETAWAY FOR 2, REG. $2083
Most visitors to St. Kitts book months in advance, but when we pointed out that travel enthusiasts are more spontaneous, this resort gave us a terrific rate for stays this November and December. Spend four nights in Frigate Bay and get an upgraded Oceanview room, too.

Are you a travel enthusiast? Join the club today: https://travelzoo.com

Who are we?
We, Travelzoo®, are the club for travel enthusiasts. We reach 30 million travellers. Club Members receive Club Offers negotiated and rigorously vetted by our deal experts around the globe. Our relationships with thousands of top travel companies give us access to irresistible deals. Our club and its benefits are built around the lifestyle of a modern travel enthusiast.

Media Contact: 
Amanda Ieraci – Toronto
+1 437 866 8540
aieraci@travelzoo.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/club-offers-for-travel-enthusiasts-in-canada-302918543.html

SOURCE Travelzoo

Continue Reading

Trending