On May 14th, 2024, Summit Nanotech (“Summit”) and Zelandez announced the signing of a non-binding letter of intent (LOI) to coordinate on optimizing the process from brine to battery by utilizing Zelandez's cutting-edge ErLiTM carbonation technology and Summit's state-of-the-art denaLiTM Direct Lithium Extraction (DLE) technology.
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A project to create battery-grade lithium carbonate from brine from one of Summit's South American salars is being evaluated, and the LOI starts discussing the project's scope of work.
- According to UN Trade & Development (UNCTAD), the demand for lithium might rise by more than 1500% by 2050 to reach the global net-zero emission targets.
- By 2030, 526 kt of lithium will be produced using DLE technology, according to BloombergNEF.
- With South American brines, denaLiTM DLE has shown 96% lithium recovery.
Globally, numerous new mining projects must begin operations to generate the essential minerals required to fuel the green energy revolution. By showing the synthesis of lithium carbonate on a commercial scale, Summit and Zelandez will contribute to the development of these essential minerals required for the production of batteries.
Zelandez is a company with deep experience and knowledge of the brine reservoirs of South America. We plan to use their brine field services in the exploration and development stage of our assets, and we are even more supportive now that they are developing a modular back-end carbonation process. We can move our joint venture assets into production faster by using incremental phases of drilling, DLE, and carbonation on-site.
Amanda Hall, Chief Executive Officer, Summit Nanotech Corporation
Using DLE and lithium carbonation services, Summit Nanotech and Zelandez hope to drastically cut the time and environmental impact of producing lithium. They are aiming for the lithium triangle, which contains the world's most cost-effective and superior lithium production resources.
We have often said at Zelandez that it is the people that make any deal or job worth doing. Working with Amanda Hall and the Summit Nanotech team is a natural fit, as they are a fantastic group of engineers and geoscientists – we both value agility, scientific rigor, reducing environmental impact, and respecting local communities. We see this LOI as the first step in a long strategic alignment.
Gene Morgan, Chief Executive Officer, Zelandez