The Minister of Industry, Employment, Innovation and Commerce, Eduardo Arasti, expressed his satisfaction for the success of Lifthium Energy Cantabria in securing 21 million euros in financing from the PERTE for Electric Vehicles (VEC III) for the green lithium battery plant planned for Torrelavega, with a total investment of some 480 million euros.

The Minister of Industry and Tourism, Jordi Hereu, personally notified the Cantabrian minister of the decision in favour of Lifthium Energy during the Hispano-China Automotive Summit held today in Madrid, organised by Faconauto.

Arasti congratulated the company, part of the Portuguese José de Mello Group, for this achievement which represents “an important positive step forward” for Lifthium Energy project in Torrelavega, a lithium refinery associated with electric vehicle sector. The project is estimated to create some 200 direct jobs.

The Minister noted that the Government of Cantabria, through SODERCAN, has been discreetly supporting this project for some time in order to secure business investment that will be a driver of prosperity in the Besaya region and Cantabria as a whole. “We will continue to work to make this project a reality”, he added.

THE PROJECT

The installation of this project in Cantabria is part of a larger effort to promote the decarbonisation of industry in the region, contributing to improving its competitiveness within national, European and international markets.

With this combined investment project, the company will refine high-quality and sustainable lithium hydroxide, using renewable energies and technologically advanced and innovative processes using electrolysis.

This is a pioneering and multifaceted initiative in the production of lithium hydroxide, incorporating advanced electrolysis techniques and distinguished by its use of electricity produced from renewable sources.

This approach not only revolutionises the traditional production process, making it more sustainable, but also represents an innovative step forward in the management of resources and energy efficiency.

A further innovation at a later stage is the integration of a recycling system for lithium ion batteries, permitting the recovery of critical raw materials, the conservation of valuable natural resources and reducing waste. This practice is an element of the circular economy, contributing to a more sustainable life-cycle of the product.

Lifthium thus positions itself as an innovator in the sector, driving the transition towards a more sustainable, less polluting battery industry and reinforcing European independence and competitiveness in this crucial sector.

Additionally, the project is not limited to technological innovation but also presents a new paradigm in the battery value chain, with a business model that can be replicated and adopted by other industries, promoting more sustainable practices and a broader energy transition.

This initiative represents a fusion of technological innovation and new processes, illustrating how technology can be harnessed to further environmental sustainability and energy efficiency.

PERTE VEC

The PERTE VEC project (Strategic Project for Economic Recovery and Transformation for Electric and Connected Vehicles) is financed through the Next Generation fund.

The aim is to incentivise investment in industrial production capacity for batteries for the electric car industry, their essential components and the production or recovery of essential prime materials.