LiTHOS Announces Receipt of First Customer Payment and Provides Operational Update
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- LiTHOS' patent-pending, environmentally friendly lithium extraction technology now under contract with 4 of the largest lithium brine producers in the world
- LiTHOS booked its first customer revenues and has scheduled multiple customer acceptance tests in Q1
- There are now a total of 17 specific customer-driven field brine processing programs spanning the upstream segments of the value chain including: conditioning, pre-treatment, optimizing wash water recovery, and Direct Lithium Extraction ("DLE")
- These results will validate impurity removal with AcQUA™ pre-treatment flowsheets using customer field brines
- AcQUA™ technology is being vetted by one of the largest Engineering Procurement Construction and Commissioning ("EPCC") firms for multiple multi-billion-dollar lithium projects
LiTHOS has booked its first revenues from several lithium producers.
This solidifies multiple strategic relationships which will validate several customized AcQUA™ pre-treatment flowsheets based upon actual customer reservoir brines.
These customer-driven pilot processing programs span the upstream segments of the value chain including: conditioning, pre-treatment, optimizing wash water recovery, and Direct Lithium Extraction ("DLE").
LiTHOS' patent-pending, environmentally friendly lithium extraction technology is now under contract with (4) four of the largest lithium brine producers in the world.
LiTHOS has engineered 17 customized AcQUA™ flowsheets based upon of the chemistry of actual customer reservoir brines spanning upstream segments of the value chain including: conditioning, pre-treatment, optimizing wash water recovery, and Direct Lithium Extraction ("DLE").
Further, the Company's AcQUA™ technology is being vetted by one of largest Engineering Procurement Construction and Commissioning ("EPCC") firms for multiple, multi-billion-dollar lithium projects.
Based upon the Company's performance with the previously announced
The grant application received written support from
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"The Company surpassed all its internal goals set for Q4 2023. Sales process accelerated as customers realized our technology will save them incredible amounts of time and money. We booked the Company's first customer revenues for lithium processing," said Scott Taylor, Chief Executive Officer.
"We also hosted one of the largest lithium producers at our
Lithium is now among one of the world's most in-demand metals as the world "electrifies" to limit CO2 emissions, led by continuing growth in EV sales and the installation of hundreds of gigawatts of intermittent solar power generation capacity requiring partial battery storage solutions.
The Company's mission is to deliver sustainable lithium production without the use of evaporation ponds. AcQUA™ is LiTHOS' patent-pending technology that spans the complete value chain from the conditioning and pre-treatment of raw brines through the DLE phase into the polishing and purification of battery grade lithium feedstock. LiTHOS has two fully operational processing facilities: a 4,000 sq ft lab in
LiTHOS is working under contract with multiple strategic mineral resource owners and processing brines from the largest Salars in
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ON BEHALF OF THE BOARD
Scott
Forward-Looking Statements: This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian legislation. All statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, that the Company will receive an additional grant from the US Department of Energy and that the Company's process will make lithium production cheaper, faster, and much more environmentally friendly. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company's process will be commercially scalable such that it will make lithium production cheaper, faster, and much more environmentally friendly. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, but are not limited to, the failure of the Company's facilities to handle increased demand and the potential that that Company's market position does not increase as expected. Further, the ongoing labour shortages, inflationary pressures, rising interest rates, the global financial climate and the conflict in
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SOURCE Lithos Group
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