NEW YORK, January 23, 2017 /PRNewswire/ --
http://www.Financialbuzz.com - Lithium has become high-demand metal
and the increasing popularity of which is driven by rapid expansion in the lithium-ion (Li-Ion) battery industry. According to
Freedonia Group Global demand for lithium metal is projected to rise 8.9 percent per year through 2019 to 49,350 metric tons.
Converting the metric tons into dollar value using the lithium carbonate equivalent (LCE), the value of the global lithium market
is projected to reach $1.7 billion. Lithium-ion batteries are in demand for hybrid and electric
vehicles, energy storage systems, and high-drain portable electronics. MGX Minerals Inc. (OTC: MGXMF) (CSE: XMG.CN), FuelCell
Energy Inc. (NASDAQ: FCEL), Ballard Power Systems Inc. (NASDAQ: BLDP), SolarEdge Technologies Inc. (NASDAQ: SEDG), Plug Power
Inc. (NASDAQ: PLUG)
The report also indicates that, "Rising production of primary lithium batteries will also support market gains, especially as
improving incomes in emerging economies spur shifts to better performing primary batteries. Other major markets for lithium --
including glass and ceramics, lubricating grease, and metallurgy -- are forecast to post relatively moderate gains."
MGX Minerals Inc. (OTC: MGXMF) (CSE: XMG.CN) is a diversified Canadian mining company engaged in the development of
large-scale industrial mineral portfolios in western Canada. The Company operates lithium,
magnesium and silicon projects throughout British Columbia and Alberta.
MGX Minerals Inc. announced earlier today that the, "formation of the PetroLithium Corporation of America, a 100% owned U.S.
subsidiary (the "PetroLithium Corporation") of the Company. MGX has mandated PetroLithium Corporation to acquire oil field
assets, including brine-bearing lithium resources, oil wells and existing oil and gas ("O&G") infrastructure. Staking and oil
well acquisition activities in lithium brine-bearing areas of Utah have already commenced.
Additionally, acquisition and exploration activities are expected to commence shortly in Colorado, Texas and Arkansas. All states
are host to significant current and past producing oil production associated with areas of enriched minerals including sodium,
calcium, magnesium, potassium, boron, bromine and lithium.
Geological Overview- PetroLithium Corporation is focusing activities on the Mississippian and Pennsylvanian (Carboniferous)
age aquifers of the Paradox Basin (UT, CO) and the Jurassic Period Smackover Formation (TX, AK)…
Extraction of Lithium from Oil Field Brine - MGX recently reported the extraction of lithium from oil wastewater using its
patent pending process (U.S. Provisional Patent #62/419,011) for the extraction of lithium and other valuable minerals from oil
brine (see press release dated January 3, 2017). It is the only patent of its kind providing for
the rapid extraction of lithium and other valuable minerals from oilfield brine. Current conventional production of lithium from
brine takes up to 18 months due to the solar evaporation phase. MGX's process eliminates the solar evaporation step, reducing
potential production to one day and representing a reduction of >99% and a by-product of re-useable, non-toxic water. The
treatment of oil wastewater offers significant revenue potential and environmental benefit in addition to mineral extraction as
the processing removed all suspended solids, including 99.7% of hydrocarbons and 99.9% of silica and other scale-forming
minerals. With its engineering partner PurLucid Treatment Solutions Inc., MGX expects deployment of pilot plant shortly.
Commercial deployment is expected in the second half of 2017 and off-take negotiations are underway.
The Company has filed a trademark application with the United States Patent & Trademark Office for the name Petrolithium
for future use in commerce, and if granted will give MGX exclusive right to its use in trade. Canadian Lithium Portfolio - MGX is
the largest holder of mineral permits covering known lithium-bearing brine areas in Canada with
a land package encompassing nearly 500,000 hectares (1.2 million acres). All permits are focused on major oil and gas production
areas of Alberta. Along with oil and gas, these areas currently produce more than one million
barrels per day of brine.
Qualified Persons - The technical portions of this press release has been reviewed by Andris
Kikauka (P. Geo.), Vice President of Exploration for MGX Minerals. Mr. Kikauka is a non-independent Qualified Person
within the meaning of National Instrument (N.I.) 43-101 Standards."
FuelCell Energy Inc. (NASDAQ: FCEL) has stationary fuel cell power plants, Direct FuelCell® that generates ultra-clean,
efficient and reliable power on three continents, affordably providing continuous distributed power generation to a variety of
industries including utilities, commercial and municipal customers. The Company's power plants have generated billions of
kilowatt hours of ultra-clean power using a wide variety of fuels including renewable biogas from wastewater treatment and food
processing, as well as clean natural gas.
Ballard Power Systems Inc. (NASDAQ: BLDP) announced that the company's subsidiary, Protonex, has received certification
from the U.S. Government enabling its industry-leading SPM-622 (Squad Power Manager) and VPM-402 (Vest Power Manager) products to
be exported under the Commerce Department's Export Administration Regulations, classification EAR99. With this classification,
these products can be sold to allied military partners as well as commercial customers without the need for an export license.
Protonex Power Manager enables military personnel, along with commercial users such as mountain climbers and other extreme sports
enthusiasts to recharge GPS systems, laptops, night-vision goggles and virtually any other portable equipment from any military
or civilian energy source.
SolarEdge Technologies Inc. (NASDAQ: SEDG) offers an inverter solution for a solar photovoltaic system. The Company's
products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product
roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy
management. The Company's power optimizers provide module-level maximum power point tracking and real-time adjustments of current
and voltage to the optimal working point of each individual PV module. The Company's solution consists of a direct current power
optimizer, an inverter and a cloud-based monitoring platform that operates as a single integrated system.
Plug Power Inc. (NASDAQ: PLUG) is a provider of alternative energy technology focused on the design, development,
commercialization and manufacture of hydrogen fuel cell systems used for the industrial off-road market and the stationary power
market. The Company's product line includes GenKey, GenDrive, GenFuel, GenCare and ReliOn. GenKey offers solutions to customers
transitioning their material handling vehicles to fuel cell power. GenDrive is a hydrogen fueled proton exchange membrane fuel
cell system. It provides power to material handling vehicles. GenFuel is a hydrogen fueling delivery system. It is designed to
allow customers to refuel its GenDrive units for productivity. GenCare is an ongoing maintenance program for both the GenDrive
fuel cells and GenFuel products. ReliOn is a stationary fuel cell solution. It provides scalable, modular PEM fuel cell power to
support the backup and grid-support power requirements of the telecommunications, transportation and utility sectors.
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