In the CNBC video, "Why The EV Industry Is Betting On This Lithium Mining Breakthrough," the pressing demand for electric vehicles (EVs) serves as a catalyst for a revolutionary shift in lithium mining technology. The video begins by illustrating the conventional method of lithium extraction involving evaporating brine in massive pools, a process criticized for its inefficiency, environmental impact, and land use.
With the global automotive industry grappling to meet ambitious EV production targets, there emerges a compelling need for more sustainable and efficient lithium extraction methods. As traditional approaches fall short in supplying the 20-fold increase in lithium demanded by the auto industry, the spotlight turns to Direct Lithium Extraction (DLE) technologies.
However, despite the potential of DLE, challenges remain in scaling and adapting these technologies to various brine conditions. With this Volt Lithium (Ticker: VLT or VLTLF for US investors) is developing lithium extraction technology specifically for oilfield brines that can be easily integrated into existing oil and gas operations, greatly expediting the permitting process and minimizing additional environmental disruption.
Volt Lithium's distinctive 2-stage Direct Lithium Extraction technology can achieve a 99% reduction in contaminants during the first stage and successfully extracts up to 90% of lithium in the subsequent stage.
Originally developed for the Rainbow Lake lithium brine project, which is estimated to contain 99 billion barrels of lithium-infused brine, Volt Lithium has ambitious plans to expand the application of its extraction technology to oilfield brines across various North American basins. This expansion will be facilitated through the implementation of a recently announced demonstration plant.
With robust results from lab testing and a successful pilot production program validating the efficacy of their extraction processes, Volt Lithium's commissioned permanent demo plant is poised to diversify the company's industry applications. This development not only creates opportunities for partnerships and collaborations but also significantly enhances Volt Lithium's potential impact and outreach across North America.
Company Deck: https://voltlithium.com/wp-content/uploads/2023/10/23-10-06-Volt-Lithium-Oct-Full-Deck-FINAL.pdf
Posted on behalf of Volt Lithium Corp.