Expion360 announced an agreement with a lithium supplier to secure material to make Expion360’s lithium batteries.
Expion360 and Ioneer Ltd. signed a memorandum of understanding stating Expion360 is interested in engaging Ioneer as a supplier of lithium carbonate and Ioneer is interested in manufacturing and supplying the product to Expion360.
Ioneer owns the Rhyolite Ridge Lithium-Boron Project located in Nevada. The site is the only known lithium-boron deposit in North America and one of only two known such deposits worldwide.
In September 2021, Ioneer entered a 50/50 joint venture agreement with Sibanye Stillwater Ltd to advance the Rhyolite Ridge project into commercial production with Ioneer as the operator.
“This is an important step toward the vertical integration of our company and controlling our supply chain,” Expion360 CEO John Yozamp said. “With the ever-increasing demand of our battery products and our production capabilities, it is important to have a domestic supplier of lithium.”
Expion360 also hired Chesapeake Group to handle the company’s corporate communication and broker relations.
