Advanced compressed air energy storage (A-CAES) technology firm Hydrostor has signed a binding agreement with mining firm Perilya to progress the construction of a project in New South Wales, Australia.
The lithium industry needs US$116 billion of investment to achieve the 5.7x ramp-up in production needed for 2030 decarbonisation goals, and prices may remain ‘tight’ in the coming years.
Lithium carbonate prices have started to creep back up again after coming down from 2022’s extreme highs, but the long-term outlook is one of downwards prices, research firm Fastmarkets said.