Portugal's Lithium Power Play: EU Grant Spurs New Refinery

Lifthium Energy will build a lithium refinery in Portugal with a €180 million grant to boost the electric vehicle battery market. This aligns with Europe's push for green industry improvements. The firm aims for a 2030 start date, while expanding refining capacities with new strategic partnerships.

Portugal's Lifthium Energy has been awarded a €180 million grant to establish a lithium refinery in the country's north, aiming to capture the burgeoning electric vehicle battery market.

Portugal leads Europe in lithium production, historically supplying ceramics but now focusing on battery-grade lithium, thanks to support from the EU's Temporary Crisis and Transition Framework.

Lifthium, primarily owned by Jose de Mello, plans to start the Estarreja refinery by 2030 and may add another in Spain. CEO Duarte Braga highlights the need for strategic partnerships amidst market challenges.

(With inputs from agencies.)