Core Points - Geomet, a joint venture between European Metals Holdings and CEZ, has received a grant of up to €360 million ($416.98 million) from the Czech Government to support the Cinovec lithium project [1][3] - The funding is part of the Czech Republic's Strategic Investments for a Climate-Neutral Economy programme, aimed at enhancing production and expansion of critical raw materials [2][6] - The Cinovec project has been recognized as a strategic initiative under the EU Critical Raw Materials Act, facilitating access to expedited permitting and funding [4][5] Company Insights - The grant represents one of the largest direct project-level funding commitments to a critical raw materials project within the EU, highlighting the project's significance for European electromobility [3][4] - The Czech Government's support underscores the importance of the Cinovec project in the context of lithium demand and supply chain security [4][6] - Next steps for the project include finalizing administrative processes for the grant, integrating it into project finance, and preparing for construction [7]