- LithiumBank Resources (LBNK) signed a MOU with ZS2 Technologies Inc. for its Boardwalk and Park Place lithium projects in Alberta
- The MoU will enable ZS2 to deploy their proprietary and patented CO2 Direct-Air-Capture (DAC) technology to capture carbon dioxide emissions from the projects
- ZS2 will also further process treated brine to collect magnesium (Mg) and calcium (Ca) for use in its proprietary magnesium cement products.
- LithiumBank stock (TSXV:LBNK) opened trading at C$1.31
LithiumBank Resources (LBNK) signed a MOU with ZS2 Technologies Inc. for its Boardwalk and Park Place lithium projects in Alberta.
The MoU will enable ZS2 to deploy their proprietary and patented CO2 Direct-Air-Capture (DAC) technology to capture carbon dioxide emissions from the projects.
ZS2 will also further process treated brine to collect magnesium (Mg) and calcium (Ca) for use in its proprietary magnesium cement products.
According to the company, this has the potential to capture and permanently sequester 100 per cent of CO2 emissions produced from its onsite power facility at Boardwalk.
ZS2 will co-produce magnesium and calcium onsite in a future integrated processing facility from treated brine after the lithium has been removed. Its processing facility will generate acid and base biproducts that can cost effectively be used in the LithiumBank’s processing plant at Boardwalk.
LithiumBank’s Executive Chairman, Paul Matysek explained that the potential to be a carbon neutral lithium producer in Alberta has been a company goal from the outset and the team now has a line of sight to achieving that goal.
“Beyond just the value of carbon capture, we will be able to co-produce other critical minerals like magnesium as well as reducing our brine reinjection requirements. Our agreement will allow ZS2 to produce a high demand, low-carbon cement product among other by-products that can be used in our lithium processing facility further reducing our operating costs. We look forward to expanding and enhancing our partnership as we move towards a carbon neutral combined lithium-magnesium-calcium commercial production facility that will set LithiumBank apart from its peers.”
ZS2 Technologies’ CEO and Co-Founder, Scott Jenkins called this a clear demonstration of how his company can solve the world’s biggest problems using homegrown talent and resources.
“Working together to combine lithium extraction for green energy along with magnesium and calcium for carbon-neutral cement is a big step forward in diversifying our economy and supplying the materials the world needs.”
LithiumBank Resources Corp. is an exploration and development company focused on lithium-enriched brine projects in Western Canada. It currently holds more than 3.6 million mineral titles.
LithiumBank (LBNK) opened trading at C$1.31.