BUSINESS WIRE: Pure Lithium Expands Strategic Vanadium Cathode Technology Portfolio with Asset Acquisition from Private US Based Dimien Inc.

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BOSTON --(BUSINESS WIRE)-- 01.10.2024 --

Pure Lithium Corporation, a disruptive Boston-based vertically integrated lithium metal battery technology company, is pleased to announce the acquisition of all the assets of Dimien Inc., a private U.S. vanadium cathode materials company. Pure Lithium acquired Dimien’s intellectual property, know-how, manufacturing equipment and took on its experienced team, accelerating the development of Pure Lithium’s lithium metal vanadium (LVO) battery.

Dimien developed a class of vanadium-based cathode material known as zeta vanadium oxide (ZVO). This low-cost cathode material has high energy density and does not cause fires like today’s NMC and NCA cathodes. Dimien’s vanadium cathode is made from materials that are produced in North America and does not use minerals such as nickel, cobalt and graphite, which are sourced from less favorable jurisdictions, and are at risk of short supply in the future.

Dr. Brian Schultz, Founder and CEO of Dimien, will join Pure Lithium in the role of Vice President of Business Development and Technology. Additional Dimien team members will also join the company.

Pure Lithium Founder and CEO Emilie Bodoin commented:

“This asset purchase will expedite the commercialization of our LVO battery. Dr. Schultz and his team have worked diligently for years to develop a vanadium cathode. They have taken ZVO from a university science project to commercially relevant prototypes, which cycle beautifully against our lithium metal. I have known Dr. Schultz for several years, and he is a fantastic, meticulous scientist and I am thrilled to have him join the Pure Lithium team.”

“We have a lithium metal electrode production technology that dramatically reduces costs, and together with our LVO battery technology, we will bring to market a next-generation battery that is superior to lithium-ion in performance and safety. Eliminating graphite, nickel and cobalt is disruptive for the industry, and will ensure U.S. supply chain security ending dependence on China.”

“It is well known by battery manufacturing incumbents that vanadium is not technically viable for use in lithium-ion batteries, which utilize a graphite anode and a lithiated transition metal oxide cathode. Ironically however, the same reasons that vanadium is not viable for lithium-ion technology make it the perfect pairing for Pure Lithium’s next-generation lithium metal batteries, presenting a unprecedented commercial opportunity for Pure Lithium.”

Dimien Founder and CEO, Brian Schultz, comments:

“We are thrilled to announce the sale of all the assets of our company to Pure Lithium and our new journey with the Pure Lithium team. This sale marks a significant milestone in Dimien’s journey, reflecting our team’s dedication to growth, innovation and the pursuit of clean energy technologies. I want to thank everyone who has supported our vision as this exit would not have been possible without the dedication of many great people.”

“I’ve known Emilie for several years and have watched her build a truly talented team and develop disruptive technology poised to commercially break through. The combination of Pure Lithium’s lithium metal anode with Dimien’s vanadium cathode is an ideal pairing that will accelerate the commercialization of advanced battery technology. Joining forces with Pure Lithium is an exciting next step, and we can’t wait to get started!”

To learn more about how Pure Lithium is revolutionizing battery production, go to: https://www.purelithium.io/

View source version on businesswire.com: https://www.businesswire.com/news/home/20240930266814/en/

Ross Larsen, Head of Editorial, 33 Communications
purelithium@thirtythreecomms.com