Bessemer, Alabama complex is currently processing multiple field brines from the largest, highest quality Salars in production from Chile and Argentina with patent pending AcQUA™ technology.
55,000 sq ft Bessemer complex triples LiTHOS capacity to on-board new customers and deliver results spanning the complete value chain – from pre-treatment to DLE to a polished and purified hydroxide.
LiTHOS investment in Bessemer has received strong support from the local community and the federal government: U.S. Senator Katie Britt, U.S. Senator Tommy Tuberville, U.S. Congresswoman Terri A. Sewell, U.S. Congressman Gary Palmer, Alabama Mobility and Power Center, the University of Alabama, and the City of Bessemer, Economic and Community Development Department.
VANCOUVER, BC, Jan. 16, 2024 /PRNewswire/ - LiTHOS Energy Ltd. ("LiTHOS" or the "Company") (CBOE CA: LITS) (OTCQB: LITSF) (FSE: YU8) (WKN: A3ES4Q) is pleased to announce its Bessemer, Alabama processing facility is fully commissioned and actively processing multiple customer lithium-enriched brines from the largest producing Salars in Chile and Argentina.
LiTHOS' patent pending AcQUA™ technology is on track to becoming the global standard in economically efficient, sustainable lithium production. AcQUA eliminates the need for evaporation ponds - an environmentally damaging and water-intensive step in the lithium extraction process. AcQUA™ technology helps resource owners unlock higher yields more quickly from continental brine lithium resources at a substantially lower cost without the use of chemical reagents.
Lithium is now among one of the world's most in-demand metals due to ambitious electrification efforts to limit CO2 emissions. This global demand is underpinned by the adoption of electric vehicles and the installation of hundreds of gigawatts of intermittent solar power generation capacity requiring partial battery storage solutions.
"We are excited to increase our capacity to process more customer brines simultaneously between our facilities in Denver and now the Bessemer complex," said Scott Taylor, Chief Executive Officer. "The requirement for the Bessemer complex was driven by substantial incoming, unsolicited customer demand for bespoke conditioning and pre-treatment processing prior to Direct Lithium Extraction ("DLE"). We now can deliver near real-time fluid sampling results for visiting customers to validate and verify our AcQUA™ technology on their reservoir brines. The existing permits allow us to seamlessly extend our pre-treatment processing flowsheets to DLE and all the way through polishing and purification of battery grade lithium. Taken together, this should accelerate our sales process."
Agreement with OGIB Corporate Bulletin
The Company announces that it has entered into an agreement with OGIB Corporate Bulletin ("OGIB") whereby OGIB will produce a minimum of four articles and assist with the publication of Company materials to help gain exposure to investors. The intended publication schedule of such materials shall be roughly one per quarter but may be sped up if major news warrants a new story. The term of the engagement is one year and the Company will pay OGIB $120,000 for these marketing services. No stock options or other compensation securities are being granted or issued, as applicable, in connection with the engagement. OGIB does not currently own any securities of the Company; however, OGIB and its clients may acquire securities of the Company in the future.
About LiTHOS
The Company's mission is to deliver sustainable lithium production without the use of evaporation ponds. AcQUA™ is LiTHOS' patent-pending technology that spans the complete value chain from the conditioning and pre-treatment of raw brines through the DLE phase into the polishing and purification of battery grade lithium feedstock. LiTHOS has two fully operational processing facilities: a 4,000 sq ft lab in Denver, CO and a 55,000 sq ft complex in Bessemer, AL. LiTHOS is working under contract with multiple strategic mineral resource owners and processing brines from the largest Salars in Chile and Argentina, and the Smackover reservoir in the Southeastern United States. Our wholly owned subsidiary, Aqueous Resources LLC, is a US Department of Energy grant awardee and a Colorado Advanced Industries grant awardee.
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ON BEHALF OF THE BOARD
Scott Taylor - CEO
Forward-Looking Statements: This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian legislation. All statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, the Company's market position in the industry of sustainable lithium production and increase in the capacity of the Company's facilities. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company's facilities will be able to handle the increased demand. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, but are not limited to, the failure of the Company's facilities to handle increased demand and the potential that that Company's market position does not increase as expected. Further, the ongoing labour shortages, inflationary pressures, rising interest rates, the global financial climate and the conflict in Ukraine and surrounding regions are some additional factors that are affecting current economic conditions and increasing economic uncertainty, which may impact the Company's operating performance, financial position and future prospects. Collectively, the potential impacts of this economic environment pose risks that are currently indescribable and immeasurable. Other factors may also adversely affect the future results or performance of the Company, including those risk and concerns more fully described in the Company's annual and quarterly management's discussion and analysis and in other filings made by the Company with Canadian securities regulatory authorities under the Company's profile at www.sedarplus.ca. Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. These forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements.
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SOURCE Lithos Energy Ltd.
