Elektros Expands Global Footprint with Lithium Mining Lease

Rhea-AI Summary

Elektros (OTC PINK:ELEK), a leader in electric mobility, has secured a 13-year ground lease for a lithium mine in Sierra Leone, West Africa. This strategic move aims to capitalize on the region's rich lithium deposits and meet the growing global demand for lithium, driven by the expanding electric vehicle market and energy storage needs. CEO Shlomo Bleier emphasized the company's commitment to advancing sustainable energy solutions.

The global lithium-ion battery market is projected to reach $116.6 billion by 2030, with applications extending beyond EVs to include solar battery storage, data centers, and consumer electronics. This expansion aligns with Elektros's focus on innovation in electric mobility and sustainable energy solutions.

Positive

• Secured a 13-year ground lease for a lithium mine in Sierra Leone
• Strategic positioning to meet rising global demand for lithium
• Aligns with projected growth of lithium-ion battery market to $116.6 billion by 2030
• Expands company's involvement in sustainable energy solutions

Negative

• None.

SUNNY ISLES BEACH, FL / ACCESSWIRE / August 25, 2024 / Elektros (OTC PINK:ELEK) ("Elektros" or "the Company"), a trailblazer in electric mobility, recently finalized a 13-year ground lease for a Lithium mine located in Sierra Leone, West Africa. The Company's strategic location in Southern Sierra Leone capitalizes on the region's rich lithium deposits, enhancing operational efficiency and sustainability.

"This milestone underscores Elektros's commitment to advancing sustainable energy solutions," said Shlomo Bleier, Chief Executive Officer at Elektros. "Securing this mining lease strategically positions us to meet the rising global demand for lithium, driven by the expanding electric vehicle market and growing energy storage needs."

The global lithium-ion battery market is projected to reach $116.6 billion by 2030, fueled by increasing adoption in EVs and renewable energy storage solutions.

Lithium's applications extend beyond EVs to include solar battery storage, data centers, and consumer electronics, aligning with global trends towards renewable energy and sustainability.

Lithium mining underscores Elektros's commitment to innovation in electric mobility and sustainable energy solutions.

About Elektros, Inc.

Elektros (OTC PINK:ELEK) is a vertically integrated sustainable energy company focused on lithium mining, electric vehicle charging, solar energy storage, and power supply for AI data centers. We are at the forefront of the clean energy transition, driving innovation in mobility and energy technologies to combat the global climate crisis and deliver transformative user experiences. www.elektros.energy

Cautionary Language Concerning Forward-Looking Statements

This release contains "forward-looking statements" that include information relating to future events and future financial and operating performance. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential," and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for Elektros, Inc.'s products, the introduction of new products, the Company's ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company's liquidity and financial strength to support its growth, and other information that may be detailed from time to time in Elektros Inc.'s filings with the United States Securities and Exchange Commission. Examples of such forward-looking statements in this release include statements regarding future sales, costs, and market acceptance of products as well as regulatory actions at the State or Federal level. For a more detailed description of the risk factors and uncertainties affecting Elektros Inc., please refer to the Company's Securities and Exchange Commission filings, which are available at www.sec.gov. Elektros, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT:

Elektros, Inc. IR and Media Inquiries
Email: ElektrosInc@gmail.com

SOURCE: Elektros, Inc.

View the original press release on accesswire.com

FAQ

What is the duration of Elektros's lithium mining lease in Sierra Leone?

Elektros (ELEK) has secured a 13-year ground lease for a lithium mine in Sierra Leone, West Africa.

Why is Elektros's lithium mining lease in Sierra Leone significant?

The lease strategically positions Elektros to meet the rising global demand for lithium, driven by the expanding electric vehicle market and growing energy storage needs.

What is the projected value of the global lithium-ion battery market by 2030?

The global lithium-ion battery market is projected to reach $116.6 billion by 2030, according to the press release.

What are some applications of lithium beyond electric vehicles?

Lithium applications extend to solar battery storage, data centers, and consumer electronics, aligning with global trends towards renewable energy and sustainability.