ILiAD to be Licensed and Deployed at Livent's
Resource in Argentina
SAN
DIEGO, Dec. 14, 2023 /PRNewswire/ --
Today, ILiAD Technologies, LLC and Livent Corporation
(NYSE:LTHM) announced an agreement whereby Livent has acquired a
minority stake in the parent company of ILiAD
Technologies. ILiAD Technologies' parent company is a
subsidiary of EnergySource Minerals (ESM), a leading developer of
lithium projects in the Salton Sea Known Geothermal Resource Area
in California. ILiAD Technologies
will seek to commercialize and continue to develop the ILiAD
(Integrated Lithium Adsorption Desorption) technology platform.
ILiAD uses an innovative direct lithium
extraction (DLE) technology that was developed over seven years of
research and pilot testing by ESM. This highly efficient and
flexible extraction technology can be used to recover high-purity
lithium chloride from lithium-laden brine resources around the
world, including brine from salars, produced water, geothermal
brine operations, and other lithium resources.
In connection with its investment in ILiAD
Technologies, Livent will have the right to license ILiAD
technology for anticipated deployment at its lithium brine resource
in Argentina (Salar del Hombre
Muerto), and is evaluating opportunities for future production use
across its portfolio. The ILiAD solution is complementary to
Livent's proprietary process technologies and readily fits into the
company's existing plant designs and flowsheet.
Additionally, ILiAD offers the potential for significant
improvements in Livent's energy usage and carbon footprint as well
as continued improvements in water use. Commercial utilization
of ILiAD at Livent could begin as early as 2025.
"Livent is the world's foremost practitioner and
largest user of DLE-based production processes, and we are thrilled
that they have recognized the advantages that ILiAD brings to the
future of DLE. Our technology enhances the lithium extraction
process with a fraction of the physical footprint of traditional
operations, significantly less water use and lower carbon emissions
than many other DLE solutions, and no consumption of
reagents," said Samuel Moore,
Chief Executive Officer of ILiAD Technologies. "This
partnership represents a major step in our mission to deploy ILiAD
for environmentally responsible lithium production across the
world," added Moore.
"We are excited to partner with ILiAD
Technologies as we continue to invest in processes and technologies
which advance our strategy of producing high-quality lithium
chemicals efficiently and sustainably," said Paul Graves, Livent's President and
CEO. "The ILiAD platform is a next generation,
best-in-class technology that we expect will enhance and complement
Livent's existing proprietary processes, helping us build upon our
decades-long record of successfully using DLE-based production
processes at commercial scale."
Evercore acted as a financial advisor to ESM and
ILiAD Technologies.
ABOUT ILiAD TECHNOLOGIES
ESM ILiAD is a private direct lithium extraction
(DLE) technology company affiliated with EnergySource Minerals. The
company licenses the ILiAD Technology Platform, a proprietary
breakthrough technology which combines a superior lithium selective
adsorbent with continuous countercurrent bed processing to deliver
a unique, patented solution capable of concentrating and treating a
vast range of lithium laden brines under a wide variety of
conditions. The technology is poised to be deployed globally to
sustainably produce lithium to meet the immense and growing demand
for its use in the manufacturing of Electric Vehicle batteries.
ESM shareholders are TechMet Limited, a leading
technology metals investment company with a portfolio of assets
that responsibly produce, process, and recycle the metals that are
critical to the global energy transition and the electric vehicle
revolution; SLB New Energy, a global technology company driving
energy innovation to accelerate decarbonization; Catalyst
Geothermal LLC and LiNergy LLC, both U.S. based private investors
in new energy technologies; and Mercury NZ Ltd., a New Zealand electricity generation and
multi-product utility retailer.
For more information, visit:
https://www.iliadtech.com/.
ABOUT LIVENT
For nearly eight decades, Livent has partnered
with its customers to safely and sustainably use lithium to power
the world. Livent is one of only a small number of companies with
the capability, reputation, and know-how to produce high-quality
finished lithium compounds that are helping meet the growing demand
for lithium. The Company has one of the broadest product portfolios
in the industry, powering demand for green energy, modern mobility,
the mobile economy, and specialized innovations, including light
alloys and lubricants. Livent has a combined workforce of
approximately 1,350 full-time, part-time, temporary, and contract
employees and operates manufacturing sites in the United States, England, China and Argentina. For more information, visit
Livent.com.
Media Contacts:
ILiAD Technologies: John Horstman | media@ILiADtech.com | +1 (224)
430-1910
Livent Media: Juan
Carlos Cruz | Juan.Carlos.Cruz@Livent.com | +1 (215)
299-6725
Livent Investor Relations: Daniel Rosen | Daniel.Rosen@Livent.com | +1
(215) 299-6208
Safe Harbor Statement under the Private
Securities Litigation Reform Act of 1995: Certain statements in
this news release are forward-looking statements. In some cases, we
have identified forward-looking statements by such words or phrases
as "will likely result," "is confident that," "expect," "expects,"
"should," "could," "may," "will continue to," "believe,"
"believes," "anticipates," "predicts," "forecasts," "estimates,"
"projects," "potential," "intends" or similar expressions
identifying "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995, including the
negative of those words and phrases. Such forward-looking
statements are based on our current views and assumptions regarding
future events, future business conditions and the outlook for the
Company based on currently available information. There are
important factors that could cause Livent's actual results, level
of activity, performance or achievements to differ materially from
the results, level of activity, performance or achievements
expressed or implied by the forward-looking statements, including
the factors described under the caption entitled "Risk Factors" in
Livent's 2022 Form 10-K filed with the Securities and Exchange
Commission ("SEC") on February 24,
2023, as well as other SEC filings and public
communications. Although Livent believes the expectations reflected
in the forward-looking statements are reasonable, Livent cannot
guarantee future results, level of activity, performance or
achievements. Moreover, neither Livent nor any other person assumes
responsibility for the accuracy and completeness of any of these
forward-looking statements. Livent is under no duty to update any
of these forward-looking statements after the date of this news
release to conform its prior statements to actual results or
revised expectations.
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SOURCE ILiAD Technologies, LLC