Vancouver, British Columbia--(Newsfile Corp. - May 4, 2023) - Tevano Systems Holdings Inc. (CSE: TEVO) (FSE: 7RBA) (OTC Pink: TEVNF) ("Tevano" or the "Company") is pleased to provide an update on its recently acquired subsidiary, Aqua-Eo, and its proprietary technology for Direct Lithium Extraction (DLE).
Aqua-Eo's Eo-Cycle technology is designed to directly remove lithium from brine, which is a critical element for the Electric Vehicle and green technology market space. The March 2023 report by ReportLinker.com on the Global Lithium Industry estimates the global lithium market to reach $22.6 billion by 2030. Management of Aqua-Eo, based the U.S. Geological Survey, Mineral Commodity Summaries, January 2022 prepared Brian W. Jaskul and current spot prices for lithium, believes a trillion dollars worth of lithium reserves may exist within the earth's continental brine fields, including the substratum of producing and past-producing oil & gas fields.
The evaporation methodology currently used in lithium extraction is resulting in significant environmental issues, as it wastes nearly all of the groundwater used in the process. Aqua-Eo's Eo-Cycle technology is a proven oil and gas effluent and flowbacks treatment technology that provides a sustainable and efficient solution by selectively extracting lithium and/or other metals from brine in a matter of hours instead of months preserving operations water from wastage and introduces zero lithium-depleted brine tailings.
The Eo-Cycle technology comprises three phases: a primary lithium-rich effluent preconditioning and pretreatment phase, followed by a mechanically enhanced filtration and separation process that removes unwanted ions and oxidized metals, and a final tubular reactor lithium cross-linking stage. In this final stage, lithium carbonate slurry or cake is produced, which can be easily removed through flotation or settling mechanisms and converted into high-quality, battery-grade lithium carbonate end products. This process effectively addresses hindrances faced during the lithium extraction process, such as high alkalinity and hardness, and maintains end-product purity in the presence of oil and other brine contaminants.
The technology has been designed to optimize flow rate and minimize operational costs, energy usage, and water consumption. The treated water can either be reused in the extraction process or returned to the geologic stratum, resulting in zero operations water tailings. Moreover, the Eo-Cycle technology can effectively handle wastewater containing super-saturated levels of suspended solids and/or organic and inorganic compounds. The treated water meets both the Canadian Council of Ministers of the Environment (CCME) and the United States Environmental Protection Agency's (EPA) surface release criteria, ensuring compliance with regulatory requirements.
Eo-Cycle's technology is projected by management of Aqua-Eo to achieve up to 30% more lithium return in lithium production compared to other reported DLE and evaporation methods, while handling the same flow rates. This is accomplished while still achieving maximum lithium yields, with Eo-Cycle's technology extracting up to an estimated 95% lithium, as opposed to the estimated 68-73% achieved by other DLE and evaporation lithium extraction operations. Management believes the market potential for Aqua-Eo's technology is substantial, and the Company is enthusiastic about pursuing corporate opportunities related to this innovative technology.
Investors are reminded to consider the risks associated with investing in a technology-based company and should rely on their own due diligence before making any investment decisions. The Company encourages investors to seek professional advice before investing.
About Tevano
Tevano is committed to developing and commercializing innovative technologies that have the potential to transform industries and create long-term value for our stakeholders. Through its wholly-owned subsidiary Aqua-Eo, an environmentally focused industrial technology and engineering company, Tevano is fostering the development of its commercial extraction solutions for Lithium and other strategic metals, industrial wastewater and oil and gas effluent remediation and treatment.
For more information, please visit: www.tevanosystems.com
On behalf of the Board of:
TEVANO SYSTEMS HOLDING INC.
Eugene Hodgson, Chief Financial Officer
Eugenh@tevanosystems.com
604-805-6600
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. More particularly and without limitation, this news release contains forward-looking statements and information relating to the future integration of Aqua-Eo and its technology into the business of the Company, and other matters. The forward-looking statements and information are based on certain key expectations and assumptions made by the management of the Company. Although the management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information since no assurance can be given that they will prove to be correct.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the Company's ability to raise further capital and the Company's ability to integrate Aqua-Eo and its technology into the business of the Company and the markets acceptance of this technology and related products. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
Neither the CSE nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
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