Sustainable Projects Group Announces Letter of Intent to Establish a 9,000 Metric Ton Lithium Carbonate Facility

Rhea-AI Summary

Sustainable Projects Group (SPGX) has announced that its subsidiary, Lithium Harvest ApS, has signed a Letter of Intent to establish a 9,000 metric ton lithium carbonate facility in Alberta, Canada. The facility will utilize Lithium Harvest's proprietary Direct Lithium Extraction technology to extract lithium from geothermal brine, offering reduced carbon emissions and water usage compared to traditional mining methods.

The facility is scheduled to become operational in H2 2026 and is expected to more than double Canada's current lithium production. CEO Sune Mathiesen highlighted that while traditional mining operations typically take 18 years to become operational, their unique approach using existing feedstock enables project completion in approximately 18 months, positioning them to address the anticipated lithium supply deficit.

Positive

• Facility will more than double Canada's current lithium production capacity
• Significantly faster time-to-market (18 months vs. industry average of 18 years)
• Proprietary technology reduces carbon emissions and water usage
• Strategic timing with market moving towards supply deficit
• Uses existing feedstock, reducing operational complexity

Negative

• Project is still in LOI phase, not yet finalized
• Significant capital investment likely required for facility construction
• Production won't start until H2 2026

AALBORG, Denmark, May 13, 2025 /PRNewswire/ -- Sustainable Projects Group Inc. (OTC US: SPGX) ("Sustainable Projects Group" or the "Company"), today announced that the Company's wholly owned subsidiary, Lithium Harvest ApS ("Lithium Harvest") has entered into a Letter of Intent ("LOI") to establish a new lithium carbonate facility.

Pursuant to the LOI, Lithium Harvest intends to establish a manufacturing facility in Alberta, Canada, with a fully build out annual capacity of 9,000 metric tons lithium carbonate. The facility will utilize Lithium Harvest´s proprietary Direct Lithium Extraction technology that significantly reduces carbon emissions and water usage compared to traditional lithium mining.

The facility will extract lithium from geothermal brine and is scheduled to be operational in the second half of 2026. Fully build out, the facility is set to more than double the current Canadian lithium production.

"We are very pleased to announce this LOI and plans for the manufacturing facility in Alberta, Canada," commented Sune Mathiesen, CEO of Sustainable Projects Group. "After a period of oversupply, we now see that we are moving towards a supply deficit. Recent reports show that it takes an average of 18 years to bring new mining operations online. Our unique approach, using feedstock already on the ground, allows us to bring this new project online in about 18 months. We are excited to help address the lithium shortage the world is facing, and we believe this is an important step in our efforts to be a leader in the North American lithium industry."

About Sustainable Projects Group Inc.

Sustainable Projects Group Inc. is a pure-play lithium company focused on supplying high performance lithium compounds to the fast-growing electric vehicle and broader battery markets. The Company´s subsidiary, Lithium Harvest has developed a proprietary technology to extract lithium from oilfield wastewater, which enables it to manufacture lithium compounds quickly, at an attractive cost, and with a significantly reduced environmental footprint.

Company Contact:
Sune Mathiesen, CEO
+1 713 887 0751
sma@lithiumharvest.com

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SOURCE Sustainable Projects Group Inc

FAQ

What is SPGX's planned lithium production capacity in Alberta?

SPGX plans to establish a facility with an annual production capacity of 9,000 metric tons of lithium carbonate in Alberta, Canada.

When will SPGX's Alberta lithium facility become operational?

The facility is scheduled to become operational in the second half of 2026.

How does SPGX's lithium extraction technology differ from traditional methods?

SPGX's subsidiary uses proprietary Direct Lithium Extraction technology that significantly reduces carbon emissions and water usage compared to traditional lithium mining.

How long will it take SPGX to bring their lithium facility online?

SPGX expects to bring the facility online in about 18 months, compared to the industry average of 18 years for traditional mining operations.

What impact will SPGX's new facility have on Canadian lithium production?

The facility is expected to more than double the current Canadian lithium production when fully built out.