Remedium Lifecare To acquire technology To manufacture lithium carbonate

Remedium Lifecare, a pharmaceutical company, has formed a strategic partnership with Angel Partners, Ltd., UK, to obtain technology for producing lithium carbonate in India. The company has also approved an annual supply contract with Alfa Chemicals and Solvents Ltd., Turkey, starting on the same date.

Technical-grade lithium carbonate will become available in the first quarter of 2025, with a value of $20-25 million for the year. Technical-grade lithium carbonate is utilized in lithium-ion batteries for electric cars and portable gadgets.

"We are pleased to announce that Remedium Lifecare Ltd. has entered into a strategic agreement with Angel Partners, Ltd., UK, effective July 29, 2024, to acquire technology for manufacturing lithium carbonate in India. We have also signed an annual Supply Agreement with Alfa Chemicals and Solvents Ltd., Turkey, effective the same date. Supplies of technical-grade lithium carbonate will commence in the January-March 2025 quarter. The supplies for CY 2025 are valued at USD 20-25 million. Technical-grade lithium carbonate is used in lithium-ion batteries for electric vehicles and portable electronics," the company said.