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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Lithium Australia NL    LIT   AU000000LIT3

LITHIUM AUSTRALIA NL

(LIT)
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Lithium Australia NL : Soluna Australia receives Clean Energy Council approval for its three-phase battery system

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09/01/2020 | 10:05am EDT

Soluna Australia Pty Ltd ('Soluna') is an incorporated joint venture - 50% Lithium Australia NL (ASX: LIT) and 50% DLG Energy (Shanghai) Co., Ltd - that aims to supply energy storage solutions within Australia and beyond.

Clean Energy Council approval

Soluna's 15K Pack HV has received approval to be added to The Clean Energy Council's Battery Assurance Program, which includes a list of lithium battery-based energy-storage devices that meet industry best practice requirements. The list provides consumers with independent information on the safety of home battery products that meet prescribed electrical safety and quality standards.

Soluna's 15K Pack HV

Soluna's 15K Pack HV is paired with the GoodWe HT hybrid inverter series. A premiumquality battery energy-storage system designed specifically for three-phase homes and small businesses, it provides not only daily power storage but also independent blackout protection across all three loads. Much of the first shipment of this Soluna system has already been pre-sold, with additional stock ordered to meet ongoing demand.

Comment from Lithium Australia managing director Adrian Griffin

'The Clean Energy Council approval of Soluna's three-phase energy-storage system follows recent accreditation of its smaller single-phase units for residential power storage. Time of Use tariff structures encourage households generating solar power to install battery storage capacity and avoid peak energy pricing, which occurs when there is little or no solar generation capacity.

Contact:

Tel: +61 (0) 418 927 658

Email: Adrian.Griffin@lithium-au.com

About Lithium Australia NL

Lithium Australia aims to ensure an ethical and sustainable supply of critical materials to the battery industry by creating a circular battery economy. In particular, the recycling of spent lithium-ion batteries to create new battery cathode materials is intrinsic to this plan. While rationalising its portfolio of lithium projects/alliances, the Company continues with R&D on its proprietary extraction processes for the conversion of all lithium silicates (including mine waste), and of unused fines from spodumene processing, to lithium chemicals. From these, Lithium Australia plans to produce advanced components for the battery industry globally, including for stationary energy storage systems marketed in Australia. By uniting resources and innovation, the Company seeks to vertically integrate lithium extraction, processing and recycling while enhancing energy security

Tel: +61 (0) 418 927 658

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2019 0,35 M 0,26 M 0,26 M
Net income 2019 -11,6 M -8,39 M -8,39 M
Net cash 2019 2,84 M 2,06 M 2,06 M
P/E ratio 2019 -2,35x
Yield 2019 -
Capitalization 43,6 M 31,9 M 31,6 M
EV / Sales 2018 150x
EV / Sales 2019 72,5x
Nbr of Employees -
Free-Float 62,5%
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Managers
NameTitle
Adrian Christopher Griffin Managing Director & Non-Independent Director
George Bauk Non-Executive Chairman
Barry Joseph Woodhouse Chief Financial Officer & Secretary
Bryan Garrie Kenneth Dixon Independent Non-Executive Director