The Austroid Corporation has secured an 80% stake in the Nevada Lithium Project, further expanding its U.S. reach.
Austroid Corporation, a Dallas-based leader in clean energy solutions, announced the acquisition of an 80% interest in the Nevada Lithium Project from Future Battery Minerals Ltd (ASX: FBM) for a total cash consideration of $4 million. This strategic acquisition deepens Austroid’s U.S. footprint in the lithium sector and points to its commitment to supporting the nation’s energy security with critical mineral resources.
The Nevada Lithium Project, located in one of the richest lithium-producing regions in the U.S., aligns with Austroid’s focus on bolstering sustainable energy infrastructure. The transaction is indicative of Austroid’s proactive approach to securing key lithium assets that are integral to the growth of the U.S. battery market and essential to the global green energy transition.
The $4 million deal includes an initial deposit of $50,000, with the remaining $3,950,000 payable upon completion, anticipated within Q4 2024, subject to regulatory approvals.
“This acquisition is a landmark step for Austroid, demonstrating our commitment to securing resources vital to sustainable energy and regional resilience,” said an executive at Austroid Corporation. “The Nevada Lithium Project strengthens our role as a leader in the clean energy space, allowing us to contribute directly to the energy transition in the United States. We are excited to support both regional and national sustainability goals through this strategic investment.”
Through this acquisition, Austroid enhances its ability to meet the future demand for lithium, essential for lithium-iron-phosphate (LFP) battery production, which is vital to many clean energy technologies. The Nevada project further anchors Austroid’s position in the critical minerals sector, a foundational element for building a resilient U.S. energy landscape.
Austroid Corporation, headquartered in Dallas, Texas, is a forward-thinking clean energy company with a bold vision for global growth. Specializing in lithium battery supply chains, Austroid focuses on extracting, refining, and producing LFP batteries. With successful operations history in Western Australia, the company has divested key assets and is now expanding spodumene production globally. Backed by a 12-year strategic plan, Austroid drives the world’s transition to green energy. The company values innovation and integrity in its operations.
For more information about Austroid Corporation, please visit https://www.austroidcorp.com/.