Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) has announced the appointment of three veteran executives to its leadership team as part of its strategic transformation to become a leading North American vertically integrated lithium producer. Scott Monteith will serve as interim Chief Executive Officer, Jim Jaques will be the Chief Administrative Officer, and Jan Holland will join the Board of Directors.
The appointments signify the arrival of Avalon 2.0 and demonstrate the company’s commitment to reorienting itself towards full vertical integration of the lithium production cycle. The new leadership team aims to establish Ontario, Canada, as a strategic hub in North America’s clean energy transition. They plan to focus on organic growth of the lithium portfolio and developing new related opportunities, with a mission to vertically integrate lithium processing in Ontario and position the province as an integral part of the North American supply chain for electric vehicle (EV) batteries.
The company’s Phase 1 strategy includes advancing production and capitalization for the Separation Rapids project in northwestern Ontario and establishing a best-in-class lithium-hydroxide facility in Thunder Bay, Ontario. They also plan to identify non-core assets outside the scope of their focus on the first two business objectives.
Former President and CEO Donald Bubar has decided to step down from the board of directors after a long and successful tenure with the company. The new leadership team, led by Mr. Monteith, aims to transform Avalon into a world-class lithium producer and position Canada as a leader in the clean energy space.