ANNOUNCES SELECTIVE ADSORPTION LITHIUM, INC. BEGINS LABORATORY-SCALE OPERATIONS ON LITHIUM EXTRACTION PROCESS
Selective Adsorption Lithium Inc. (SAL), International Battery Metals Ltd.'s (IBAT.C) contractual partner, has commenced the laboratory-scale phase of development for its oilfield lithium extraction technology.
"Commencing laboratory-scale testing and system development of SAL's lithium extraction technology so quickly after signing the definitive agreement indicates our high level of confidence about this approach," says John Burba, incoming chairman and chief executive officer of International Battery Metals. "We were so confident that SAL and IBAT would reach a fair deal, and that our third-generation technology would be a quantum leap over prior approaches, that we were conducting the negotiations and laboratory build-out in parallel. We wanted to hit the ground running when the deal was signed. That we have achieved a lab-scale facility in under a month indicates that IBAT is committed to using the technology to disrupt the current oilfield lithium extraction methodology."
The permitted laboratory in upstate New York, which was designed and developed by SAL engineers, will be able to manufacture a proprietary material used to absorb the lithium from the brine, run tests that confirm the capabilities of this lithium-absorbing material with various brines and perform small-scale system performance testing which will establish the parameters for production-scale extraction systems.
The lab is set up in a modular fashion which enables a plug-and-play concept of testing and confirmation of results. The ability to remove and replace modules of the system provides for rapid interchangeability of system components and quick system design changes. The laboratory will also improve the third-generation extraction technology to increase the efficiency of recovery of lithium from oilfield brines, and will qualify brine resources for production-scale lithium extraction.
"The rapid deployment of critical resources since the definitive agreement was signed just a few weeks ago shows we have the right team in place," Mr. Burba commented. "IBAT's ability to move this cutting-edge technology forward in so many directions in such a short time is a clear indication that we have assembled one of the strongest technical, legal and administrative teams in the lithium extraction arena."
As announced on March 22, 2018, the company has begun finalization of the transaction by making the required payments to NAL for NAL's proprietary documents and data related to locations of candidate oilfield brines that are compatible with International Battery's patent pending third-generation extraction technology. The transaction has not closed to date however both parties are now proceeding with completing the remaining documentation to finalize the transaction.
About International Battery Metals Ltd.
International Battery is an advanced technology company focused on lithium brine extraction. The company is in the process of creating and applying intellectual property related to lithium extraction from oil field brines for petrolithium extraction projects. International Battery's unique extraction process is environmentally friendly, low cost and has the potential to produce high-quality, commercial-grade lithium at a much faster rate than the current industry standards.