“To electrify the world’s vehicle fleet, we’d need 40 times more lithium than today” said Matthew Nordan, managing director of PRIME Impact Fund, who joined Lilac’s board in connection with the investment. “Innovation unlocked unconventional oil in the fossil energy world, and innovation will open up new sources of lithium for our renewable energy future. We’ve been consistently impressed with the enthusiastic response that Lilac’s management team has received from lithium asset owners.” Lilac provides its technology and services to lithium brine projects around the world. The company has completed extensive engineering work for several customers, and consistently demonstrated high lithium recoveries with low estimated production costs, even for low-grade resources. “Lilac’s technology represents a fundamental breakthrough for the lithium sector. We have demonstrated our technology on dozens of brines, and consistently shown that our approach is significantly faster, cheaper, more effective, and more scalable than competing methods,” said Snydacker. The company is currently in discussions with lithium project developers to launch on-site pilot projects in 2019.
LKE Price at posting:
5.2¢ Sentiment: Buy Disclosure: Held
