NEW YORK, January 30, 2017 /PRNewswire/ --
http://www.Financialbuzz.com - According to a report by Transparency Market Research, lithium has emerged in recent years as one of the key high-tech materials due demand coming from the automotive industry, consumer electronics and electrical grid storage for lithium-ion batteries. The data reveals that the global lithium-ion battery market is poised to rise from US$29.68 billion in 2015 to US$77.42 billion by 2024, growing at a CAGR of 11.6%. According to the research, "the consumer electronics segment accounted for the leading share in the lithium-ion battery market in terms of revenue." However, this is expected to change as the automotive segment is likely to experience faster growth in coming years due to electric vehicles. MGX Minerals Inc. (CSE: XMG.CN) (OTC: MGXMF), FMC Technologies Inc. (NYSE: FTI), Ford Motor Company (NYSE: F), Toyota Motor Corp. (NYSE: TM), General Motors (NYSE: GM)
The report indicates that, "the increasing level of awareness among consumers and automobile manufacturers alike regarding the benefits of clean fuel, the declining availability of natural resources, and the soaring prices of fossil fuels have warranted the need for alternate solutions and this has significantly driven the global lithium-ion battery market."
MGX Minerals Inc. (CSE: XMG.CN) (OTC: MGXMF) is a diversified Canadian mining company engaged in the development of large-scale industrial mineral portfolios in western Canada. The Company operates lithium, magnesium and silicon projects throughout British Columbia and Alberta as well as petro lithium exploration in Utah. Additionally, the Company is the largest lithium brine land holder in Canada, controlling nearly 487,000 hectares of land representing over one million barrels of brine production per day
MGX Minerals Inc. earlier this morning announced that, "Mr. Marc Bruner, a leader in the development of unconventional oil and gas projects throughout North America and internationally, will serve as Chairman of the Board for MGX Minerals as well as direct petro lithium (lithium and oil) acquisitions and development for the Company's wholly owned subsidiary, PetroLithium Corporation of America.
"MGX is the first Company to separate lithium from oil well wastewater. I am excited about bringing my experience in the unconventional oil and gas business into a new industry where creative thinking is required. Being first positions MGX to be the growth leader in this energy industry paradigm shift," stated newly appointed MGX Chairman Marc Bruner.
As previously announced, MGX and engineering partner PurLucid Treatment Solutions ("PurLucid") have successfully extracted lithium from oil sands wastewater (see press release dated January 3, 2017). The Company and PurLucid are now preparing for deployment of the pilot plant shortly with commercial scale deployment expected during the second half of 2017. MGX's patent pending lithium extraction process, which potentially reduces recovery times of lithium and other valuable minerals from 18 months to one day, compared with conventional lithium extraction.
Mr. Bruner joins Dr. Larry Marks (Geophysics), formerly of Royal Dutch Shell and Shell Oil Canada, as well as Mr. Claudio Manissero , formerly of FMC Lithium and Dr. Preston McEachern , Chief Scientist, on the PetroLithium Corporate Team.
Detailed Biography - Over the past 30 years, Mr. Bruner has founded and held directorships with numerous oil and gas companies, making him a leading expert in unconventional oil and gas development in North America and internationally. Mr. Bruner was previously the Chairman and CEO of Falcon Oil & Gas Ltd. and served as Ultra Petroleum's founding Chairman where he was involved in developing the Pinedale Anticline in Wyoming , which is now recognized as one of the largest unconventional natural gas fields in the United States . While serving these companies, Mr. Bruner oversaw negotiations and contracts with global oil and gas companies including Halliburton, Exxon Mobil, Questar Gas and Hess Corporation. Previously, Mr. Bruner founded Pennaco Energy Inc. to explore and develop coal bed methane properties in the Powder River Basin of Wyoming and Montana. In March 2000, the company was sold to Marathon Oil for US $550 million…
"It is with great pleasure that we welcome Mr. Bruner to the Company and position of Chairman of the Board of MGX as well as Director of Lithium and Oil acquisitions for PetroLithium Corporation of America," said MGX President and CEO Mr. Jared Lazerson. "Mr. Bruner is one of the original developers of the unconventional oil and gas business and is a rare breed of visionary businessmen able to recognize and advance fundamental paradigm shifts in the energy industry. Among many other assets, in the past 20 years Mr. Bruner built Ultra, Falcon, and Pennaco, an unrivaled achievement in the unconventional energy industry."
FMC Technologies Inc. (NYSE: FTI) is a global provider of technology solutions for the energy industry. The Company designs, manufactures and services a range of systems and products, including subsea production and processing systems, surface wellhead production systems, high pressure fluid control equipment, measurement solutions and marine loading systems. Its segments include Subsea Technologies, Surface Technologies and Energy Infrastructure. The Subsea Technologies segment designs and manufactures products and systems, and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas. The Surface Technologies segment designs and manufactures products and systems, and provides services used by oil and gas companies involved in land and offshore exploration, and production of crude oil and natural gas.
Ford Motor Company (NYSE: F) principal business includes designing, manufacturing, marketing, financing, and servicing a line of Ford cars, trucks, sports utility vehicles (SUVs), and electrified vehicles. The company's new Fusion Energi is a hybrid car which can make trips of no more than 21 miles on electric power only. For longer drives the car operates as a gas-electric hybrid, with a four-cylinder engine and lithium ion battery pack combined. The two power sources generate together 195 horsepower. The lithium ion battery pack can be charged by plugging the car into a regular wall outlet or a 240-volt charging station. It takes 2.5 hours to fully charge the battery pack using a 240-volt charger.
Toyota Motor Corp. (NYSE: TM) engineers recently revealed that they have tamed volatile lithium-ion battery technology, and can now safely pack more power at no significant extra cost, Reuters reported. Koji Toyoshima, the chief engineer for the Prius said, "It's a tall order to develop a lithium-ion car battery which can perform reliably and safely for 10 years, or over hundreds of thousands of kilometers… We have double braced and triple braced our battery pack to make sure they're fail-safe."
Earlier this month General Motors (NYSE: GM) car, long-range electric Chevrolet Bolt was named North American Car of the Year, beating two conventionally powered luxury sedans, the Genesis G90 and the Volvo S90, in an announcement delivered at the North American International Auto Show. "There's been a lot of talk about building an affordable electric car with a 200-mile range that brings electric vehicles to the mainstream, but only one manufacturer has done that, and it's us," said Chevrolet marketing manager Steve Majoros, reported USA Today.
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