Clearly our priorities are changing, and due to innovation in new energy technology alternative and green sources of electricity are becoming more diverse. The market is fragmented, with solar, wind, hydro, lithium-ion batteries and more. While solar is still the most popular, technological advancement in lithium batteries, which have strengthened their endurance, have helped this market. A recently published research on the global battery energy storage market for smart grid by Technavio, a research company which focuses on emerging market trends, claims that the li-ion batteries segment is projected to reach 3,130 MW by 2020, growing at a CAGR of close to 72%.
MGX Minerals Inc. (OTC: MGXMF) (CSE: XMG.CN) is a diversified Canadian mining company engaged in the development of large-scale industrial mineral portfolios in western Canada. The Company focuses on lithium, magnesium and silicon projects throughout British Columbia and Alberta. On January 3rd MGX Minerals Inc. announced, "a successful extraction of lithium from heavy oil wastewater. The results are part of the ongoing optimization for completion and deployment of a pilot plant in support of its 487,000 hectare Alberta lithium project.
MGX Minerals owns a patent pending process (United States Provisional Patent #62/419,011) for the extraction of lithium and other valuable minerals from oil brine. This technology is the first of its kind, reducing production time of lithium from brine by 99% compared with conventional lithium brine production times that use solar evaporation. Process time is reduced from approximately 18 months to 1 day using MGX's process.
Heavy oil evaporator blowdown wastewater is one of the byproducts of steam assisted gravity drainage during production of heavy oil. EBD was specifically targeted as the wastewater contains mid-level concentrations of lithium and has the potential to generate high environmental revenue based on current disposal costs. MGX and PurLucid Treatment Solutions are working to integrate their respective technologies and develop a pilot plant suitable for commercial use that will treat EBD to provide oil sand producers with additional environmentally-friendly disposal options as well as recover valuable minerals such as lithium."
Plug Power Inc. (NASDAQ: PLUG) is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used for the industrial off-road market and the stationary power market. Recently Plug Power has signed a cooperative memorandum of understanding with Zhangjiagang Furui Special Equipment Co., LTD, along with a leading Chinese industrial vehicle manufacturer, also identified as one of the "big three" Chinese automakers, to develop new fuel cell applications and fueling solutions to be utilized in the large and expanding industrial electric vehicle market in China. Under the terms of the agreement, the three companies will collaborate to build electric vehicles equipped with Plug Power designed hybrid fuel cell engine systems and hydrogen fueling station solutions.
Solaredge Technologies Inc. (NASDAQ: SEDG) offers an inverter solution for a solar photovoltaic (PV) system. The Company's products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Earlier in June 2016, the company announced the compatibility of SolarEdge's StorEdge solutions and LG Chem's new high voltage RESU10H and RESU7H batteries. The product compatibility will help further advance the accessibility to cost-effective residential solar generation, storage, and consumption. With both on-grid and backup solutions, the new offering supports increasing self-consumption, providing power backup, and enabling energy independence.
Sunrun Inc. (NASDAQ: RUN) is engaged in the design, development, installation, sale, ownership and maintenance of residential solar energy systems (Projects) in the United States, with customers across 15 states, as well as the District of Columbia. Recently the company announced the availability of the Sunrun BrightBox™ solar energy generation and home battery storage service to homeowners across California. With BrightBox, Californians can enjoy a customized and innovative solution with little to no money down and Sunrun will maintain, monitor and insure the system for 20 years.
Just Energy Group Inc. (NYSE: JE) is an energy management solutions provider engaged in electricity, natural gas, solar and green energy. The Company's segments include Consumer Energy and Commercial Energy. In December, the company announced plans to enter the German retail energy market through the acquisition of DB SWDirekt, a provider of natural gas and power to consumers in Germany. Just Energy has acquired 95 percent of the issued and outstanding shares of SWDirekt for €3,350,000, subject to customary closing adjustments. Additional terms of the deal include a €1,600,000 payment upon the achievement of sales targets, and an earn-out of 5 percent of cumulative positive EBITDA in each fiscal year up to a maximum aggregate earn-out payment of €25,000,000.
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