VANCOUVER, BC, Sept. 23, 2024 /PRNewswire/ - LiTHOS Group Ltd. ("LiTHOS" or the "Company") (CBOE CA: LITS), a leader in sustainable lithium brine production technologies, is pleased to provide shareholders with a Q3 corporate and operational update highlighting significant advances in the company's AcQUA and TiERRA technologies, and new strategic partnerships with major lithium producers.
Scott Taylor, CEO of LiTHOS, shared his enthusiasm about the company's recent progress:
"Our AcQUA technology continues to prove its effectiveness, especially in our collaboration with Sociedad Quimica y Minera de Chile (SQM), one of the largest lithium producers in the world. This validation from an industry giant, which has tested nearly every Direct Lithium Extraction (DLE) technology available, speaks volumes about our competitive edge. The positive test results we've seen with AcQUA not only reinforce our ability to deliver high-purity lithium but also highlights the technology's impact on sustainability - a crucial factor as the global market shifts towards environmentally friendly energy solutions. "Further to SQM, we are also in advanced discussions with several other large lithium producers as well as companies that are at the forefront of the DLE technology space."
Taylor emphasized that LiTHOS is not just stopping at lithium recovery but is pushing the boundaries of innovation:
"We are equally excited about the growing interest in our TiERRA technology, a post-DLE solution that addresses one of the industry's biggest challenges-how to responsibly re-inject spent brine without continuously depleting freshwater resources. TiERRA is like a turbocharger for the DLE process, recycling and conditioning spent brine so it can be re-injected at scale, effectively closing the loop in the extraction process. This provides a significant environmental and technological benefit for companies while creating an additional revenue stream for LiTHOS, reinforcing our role as a leader in both innovation and sustainability. We have two large customers currently under contract with TiERA and look to immediately monetize this solution."
Key Achievements
- Technology Validation with SQM: In partnership with Sociedad Quimica y Minera de Chile (NYSE: SQM), AcQUA technology successfully demonstrated the ability to recover high-purity lithium while removing impurities like magnesium, boric acid, calcium, and sulfates-critical for producing battery-grade lithium. These tests were conducted at LiTHOS's advanced facility in Bessemer, Alabama.
- Global Collaborations: LiTHOS is currently working with two multinational corporations in the specialty chemicals and mining industries. After evaluating all available DLE technologies, these companies have selected AcQUA for pre-treatment testing and are actively exploring TiERRA as a solution for fluid re-injection at scale. These collaborations reflect LiTHOS's ability to deliver transformative results for global players in lithium production.
Innovative Technology
LiTHOS is at the forefront of lithium extraction by moving away from traditional, environmentally harmful methods like evaporation ponds. The company's AcQUA technology is a patent-pending hybrid electro-pressure membrane process that increases lithium concentration without the use of fresh water or harmful chemicals. This not only enhances the efficiency of lithium extraction but also drastically reduces the environmental impact, aligning with the industry's growing demand for sustainable mining practices.
TiERRA technology complements AcQUA by enabling the re-injection of spent brine after extracting lithium. This technology eliminates the need for fresh water, further reducing the environmental footprint of lithium extraction while providing a closed-loop solution that enhances the economic viability of DLE operations.
Grant Funding
Building on its success, LiTHOS has secured Phase II funding through the U.S. Department of Energy's FASTRACK program to validate both AcQUA and TiERRA technologies further. The company is now pursuing a multi-million-dollar Phase III 'Commercialization' grant to accelerate the deployment of these systems across key customer projects.
Intellectual Property Protection
In addition, LiTHOS recently filed a special petition with the United States Patent and Trademark Office to expedite the issuance of the fundamental process patent "Electro-Pressure Membrane Method for Recovery and Concentration of Lithium from Aqueous Sources."
Looking Ahead
"Our achievements this quarter are just the beginning of a transformative period for LiTHOS," said Taylor. "As demand for lithium continues to grow with the global push towards electric vehicles and renewable energy storage, we are confident that our innovative technologies position us to become a key player in meeting that demand sustainably. With the anticipated announcements of new contracts and continued validation from industry leaders, we are moving closer to our goal of becoming a commercial services company that not only extracts lithium but does so in a way that safeguards the environment for future generations."
About LiTHOS
Lithos Group Ltd. is a mining technology company focused on selective extraction of aqueous minerals. The Company's AcQUA technology allows lithium to be extracted from continental brine reservoirs without the need for additional freshwater or any added chemicals or reagents. Lithium is now among the world's most in-demand metals as the world "electrifies" to reduce CO2 emissions, led by continuing growth in EV sales and the installation of hundreds of gigawatts of intermittent solar power generation capacity requiring partial battery storage solutions.
The Company's mission is to produce sustainable lithium without evaporation ponds. AcQUA is LiTHOS's 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 processing facilities: a 4,000 sq ft lab in Denver, CO, and a 55,000 sq ft complex in Bessemer, AL.
LiTHOS is working with multiple strategic mineral resource owners, including 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. For more information, please get in touch with LiTHOS Investor Relations at 1-877-LITHOS1 / 1-877-548-4671 or via email at [email protected].
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ON BEHALF OF THE BOARD
Scott Taylor - CEO
Forward-Looking Statements: This news release contains certain forward-looking statements within the meaning of Canadian securities legislation, including with respect to: the plans of the Company; the purposed use of funds of the Second Tranche; and statements relating to the closing of additional tranches of the offering. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and involve several risks and uncertainties, including additional tranches of the offering may not close on the terms announced or at all; that the Company may use the proceeds of the Second Tranche for purposes other than those disclosed in this news release; adverse market conditions; and other factors beyond the control of the Company. Consequently, there can be no assurances that such statements will prove to be accurate, and that actual results and future events could differ materially from those anticipated in such statements.
Important factors that could cause future results to differ materially from those anticipated in these forward-looking statements include: limited operating history; research and development activities; effect of general economic and political conditions; and other risk factors set forth in the Company's public filings which are available on SEDAR+ at www.sedarplus.ca. Accordingly, the reader is urged to refer to the Company's such filings for a more complete discussion of such risk factors and their potential effects. Except to the extent required by applicable securities laws and the policies of Cboe Canada Inc., the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors should change.
SOURCE Lithos Group Ltd.
