Bolivia Lithium Brines Update
Next-ChemX (OTC: CHMX) and its partner Clontarf Energy have advanced to Phase 3 in the Bolivian State Lithium Company’s (YLB) convocatoria for lithium extraction at seven priority salt pans in Southern Bolivia. This selection follows the successful submission of technical materials on state-of-the-art lithium extraction technologies. Phase 3 will demand financial validation and pilot plant demonstrations of Next-ChemX’s technology. Clontarf has expanded its European partnership to include key financing and high-tech lithium offtake partners, with support from the European Commission. CEO Wilcoxon emphasized the significance of this milestone while acknowledging future challenges and the need for pilot plant testing to verify cost-effectiveness.
- Next-ChemX selected for Phase 3 in YLB's lithium extraction convocatoria.
- Successful completion of Phase 2, showcasing advanced lithium extraction technologies.
- Clontarf broadened its partnership to include financing and high-tech lithium offtake partners.
- Support and high-level negotiations from the European Commission.
- Pilot plant for technology demonstration is underway in India.
- Uncertainty remains about final approvals in the 5-phase process.
- Pending pilot plant testing to confirm cost-effectiveness of the technology.
- No assurance of successful final outcomes despite the milestone.
Bolivian Qualification for 3rd Phase of the 2024 Convocatoria
Las Vegas, Nevada, May 16, 2024 (GLOBE NEWSWIRE) -- NEXT-ChemX Corporation (OTC: CHMX), (“NEXT-ChemX”) is pleased to announce, the Bolivian State Lithium Company (“YLB”) received technical materials submitted by its strategic partner, Clontarf Energy plc, (“Clontarf”) in relation to Phase 2 of the invitation for proposals (“convocatoria”) for seven priority salares (salt pans) in Southern Bolivia.
YLB confirmed on the 14th of May, 2024 that the partnership through Clontarf is one of the 21 companies approved to enter Phase 3 of the (5-phase) process. The Phase 2 was centered upon a technical aspects of state-of-the-art Lithium extraction technologies, especially emerging Direct Lithium Extraction technologies.
Phase 3 of the process will include confirmation of the Clontarf/NEXT-ChemX JV partnership's financial capacity as well as demonstration of NEXT-ChemX’s pilot plant that is being built in India. Clontarf and NEXT-ChemX have been working closely together on the Bolivian extraction opportunity since 2022.
Clontarf announced in its Press Release yesterday, that it had broadened its "Team Europe" partnership to include financing and offtake partners representing key OEM manufacturers in the German Mittelstand, which includes high tech, battery-quality lithium off takers. Clontarf further acknowledged the European Commission's leadership and strong support for the European companies involved, including initiating high-level negotiations over infrastructure financing, and issuing a Letter of Comfort for the qualified European companies. More Lithium from more environmentally friendly from brine sources may be classified as a strategic project under the EU's Critical Resource Minerals Act.
CEO of NEXT-ChemX Corporation, Mr. Wilcoxon, states, “Our acceptance into Phase 3 of the 5-phase process is a significant milestone for our iTDE technology. There are still challenges ahead of us and while there can be no assurances we will receive final approvals; we remain confident in our technology and will need to wait until pilot plant testing of the selected brines to determine the cost effectiveness of our environmentally friendly solution.”
About NEXT-ChemX Corporation
NEXT-ChemX Corporation is an innovative technology company preparing to introduce its proprietary, patented novel Membrane-Based Ion Extraction Technology, known as iTDE technology (ion Targeting Direct Extraction) that has been proven to extract very low concentrations of certain ions from liquid solutions, while reducing the harmful impact to the environment using current processes. Our system uses a unique hollow fiber technology to extract lithium directly from brines, leach solutions, or recycled battery solutions. The extraction process is continuous, proven and can be used for a range of metal ions and radioactive ions. In addition, the system performs exceptionally well and more economically when purifying bio-oils and biodiesel. Our unique technology is easily scalable, and we are currently developing a modular extraction pilot plant which would allow for the rapid deployment of an extraction facility and its onsite assembly even in remote and difficult environments.
NEXT-ChemX Corporation, is a Nevada company trading on OTC Markets as “CHMX”. Please visit the Company’s website at www.next-chemx.com
Safe Harbor and Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section21E of the Securities Exchange Act of 1934. Making such forward looking statements involves substantial risks and uncertainties. Our actual results, performance or achievements may differ materially from those expressed or implied by our forward-looking statements. You can usually identify these statements by the use of forward-looking terminology such as “may,” “could”, “will,” “should,” “expect,” “likely,” “anticipate,” “project,” “estimate,” “potential,” “intend,” “continue” or “believe” or the negatives thereof or other variations thereon or comparable terminology. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us, are inherently uncertain. You should read statements that contain these words carefully because they discuss our plans, strategies, prospects and expectations concerning our business, operating results, financial condition and other similar matters. In spite of the difficulties associated with making forward looking statements, we believe that it is important to communicate our future expectations to our investors even though there may be events in the future that we are not able to predict accurately or control. Any forward-looking statement made by us in this press release speak only as of the date on which we make it. Factors or events that could cause our actual results to differ may emerge from time to time, for a number of reasons including, without limitation, economic, political, access to capital, competition and other risks discussed in the Company's filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K, which filings are available from the SEC. It is not possible for us to predict all of these factors or events. We caution you, therefore, not to place undue reliance on any forward-looking statements. We undertake no obligation to update, revise or modify publicly any forward-looking statements, whether as a result of changes in assumptions, new information, future events or otherwise, except as required by law. If we do update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those same or other forward-looking statements in the future.
Contact:
J. Michael Johnson,
President, NEXT-ChemX Corporation
Phone: +1 725-867-0789
email: info@next-chemx.com
FAQ
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