Vancouver, B.C., Jan. 04, 2021 (GLOBE NEWSWIRE) -- (Vancouver, Canada January 4th, 2021) Lomiko Metals Inc. (“Lomiko”) (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) has monitored news from Automakers in 2020 which indicates a strong trend toward Electric Vehicle (EV) adoption by consumers and a subsequent 500% demand increase in graphite when all end-products are considered.
The electrification of transport continues to be one of the major positive trends of the 21st century. A report by Deloitte’s global automotive team predicts that by 2030, EVs will likely account for 81 % (25.3 million) of all new EVs sold. The global EV forecast is for a compound annual growth rate of 29%.
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Lomiko Metals has identified spherical graphite production as a key goal in plans to supply graphite anodes for Electric Vehicles (EV) Li-ion battery mega-factories in the North American market. Testing for spherical graphite is to be included in the upcoming Lomiko Preliminary Economic Assessment (PEA) which is planned for the La Loutre graphite project located in Quebec, Canada.
“La Loutre is in the right location and the timing couldn’t be better to publish a Preliminary Economic Assessment to unlock the project’s full value”, stated A. Paul Gill, CEO.
Investors are aware of opportunities in the EV space and have responded with Tesla’s NASDAQ: TSLA stock up 350% since January 1, 2020. This indicates that investor excitement around electric vehicles is building. Competitors in the EV space were also vying for market share.
Volkswagen was the first automaker to commit to the Paris Agreement and aims to become climate neutral by 2050. Under its long-term planning for the next ten years, the Group intends to launch some 70 all-electric models by 2030. Around 20 of these are already in production, with 50 more to follow. The Planning Round envisages production of approximately 26 million fully electric cars by 2030. The Group plans to spend some €35 billion on e-mobility alone.
GM is also on its way to an all-electric future, with a commitment to 30 new global electric vehicles by 2025. GM is positioned to design, engineer, and produce EVs for every style and price point, and are rapidly building a competitive battery strategy.
BMW is on track to double its electric and hybrid vehicle sales in 2021 as the company announced that it will meet its target of marketing 25 electrified vehicle models by 2023. More than half of those models will be fully electric. Sales of BMW’s electric models are expected to increase by 30% every year between now and 2025.
According to a recent World Bank report, the production of graphite will have to increase by nearly 500% by 2050 to meet the growing demand for clean energy technologies. The report says that over 3 billion tonnes of minerals and metals will be needed to deploy wind, solar, and geothermal power, as well as the energy storage required to transition to a low-carbon economy. While renewables and energy storage technologies require more minerals, the carbon footprint of their production — from extraction to end-use — will account for only 6% of the greenhouse gas emissions generated by fossil fuels.
For more information on Lomiko Metals, Promethieus, review the website at www.lomiko.com, and www.promethieus.com, contact A. Paul Gill at 604-729-5312 or email: info@lomiko.com.
On Behalf of the Board
“A. Paul Gill”
Chief Executive Officer
We seek safe harbor.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), accept responsibility for the adequacy or accuracy of this release.
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