Prime Lithium and IBC Partner to Produce Carbon Neutral Lithium and Clean Water in Wyoming
ROCK SPRINGS, Wyo., April 30, 2024 /PRNewswire/ -- Prime Lithium LLC ("Prime") has entered into a strategic partnership with IBC Advanced Technologies, Inc. ("IBC") to develop a large-scale battery-grade lithium hydroxide and carbon storage project in Wyoming, U.S.A. utilizing IBC's proprietary Direct Lithium to Product™ ("DLP™") process. The DLP™ process provides a rapid, direct route to produce environmentally friendly battery-grade lithium end-products. The partnership aims to initially produce 8,000 tonnes per annum lithium hydroxide with plans to expand production to 35,000 tonnes per annum and to geologically store large volumes of carbon dioxide while producing clean water for the region.
Project Sweetwater (100% Prime) seeks to deliver American domestically produced Lithium, in a sustainable, environmentally responsible manner, which will add to the overall value chain servicing the nation's electric vehicle, devices, and grid energy storage sectors. What makes the Sweetwater project unique is the ability to cost effectively produce battery-grade lithium hydroxide in a way that is both carbon neutral and generates clean water for local use. Project Sweetwater seeks to provide long term employment, incorporating strong workforce training and development. Once completed, the impact of the Sweetwater Project on Wyoming will be significant, with the potential to make a real impact broadly across the nation.
Prime Lithium aims to develop Project Sweetwater to become a leading critical mineral operation with unparalleled environmental and social credentials. For every 1 kg of battery grade lithium hydroxide produced, the project will create 22 tonnes of carbon dioxide disposal and storage capacity and approximately 370,000 gallons of clean water, with minimal waste. Uniquely, the project's lithium product will be supplied with attaching carbon and water offsets, enabling manufacturers to provide battery components that are carbon-neutral and water-neutral into their products.
With an estimated 1.8 billion tonnes of brine mineral resource and targeting over 5 billion tonnes of brine, the Project is expected to be one of the largest lithium hydroxide production centers in the world, as well as one of the largest carbon storage projects globally. Importantly, the Project's innovative process methodology can assist in alleviating pressure on the Colorado River System so it can continue to serve as an economic artery of the region, including powering massive hydroelectric dams required for the energy transition. The Project has an initial clean water resource of 4 billion gallons with scale to increase this strategic resource to 558 billion gallons.
Uniquely, the multibillion-dollar project has already well-established infrastructure including 'Direct to Market' rail and interstate highway to all major battery plant centers and other U.S. customers. With 'on lease' road, rail, gas, fuel, power, communications and a Federal and State approved CO2 corridor, Project Sweetwater is near build ready, with production trials scheduled for later this year.
The unparalleled market opportunity of the project is largely made possible by the innovative DLP™ process which consumes little to no water, is highly energy-efficient and has been demonstrated at large pilot scale in Chile to directly produce battery-grade (99.5%) lithium hydroxide with non-detectable levels of magnetic and other impurities. Importantly, the process does not require the need to first produce lithium carbonate resulting in high yielding (99% overall recovery) operations.
Steven R. Izatt, President and CEO of IBC commented, "We are very pleased to be partnering with Prime Lithium to bring to market such an important Project for America, both in terms of its environmental credentials and the strategic need for domestic critical mineral supply. The highly water and energy efficient DLP™ process produces green lithium, which is critical to sustainability. Application of the DLP™ process to Project Sweetwater's North American brine resource will complement the success we have achieved in South America and further demonstrate the wide applicability of the DLP™ process."
Tim McManus, Managing Director of Prime Lithium commented, "Prime Lithium seeks to utilize a closed-loop, modular production system to produce battery grade lithium and clean water from a minimal operational footprint for the disposal and storage of carbon. Such leadership in the decarbonization of the critical mineral supply chain naturally attracts Tier 1 partners such as IBC. Our strategic partnership with IBC places Project Sweetwater at the forefront of the energy transition and in the top echelon of climate action projects globally. It is a significant step forward as we selectively search for build capital partners to commence production as early as 2026, particularly those who value large-scale, long-term, and ethically sourced lithium supply."
Background of Prime Lithium
Prime Lithium LLC is focused on suppling low-cost critical minerals solely for American industrial use through developing Project Sweetwater, a next generation mining and energy project located in Wyoming, U.S.A.
Background of IBC
IBC Advanced Technologies, Inc., an award-winning manufacturer and supplier of highly selective separations products, engineered systems and processes based on Molecular Recognition Technology™ (MRT™), including the transformative Direct Lithium to Product™ (DLP™) process for highly selective direct lithium extraction from brine and direct production of battery-grade lithium end-products. IBC recently created a lithium subsidiary, GreenLiT Pure Lithium, Inc. to widely commercialize the DLP™ process and sustainably meet the booming demand for battery-grade lithium end-products in a highly water and energy efficient manner with minimal environmental impact.
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SOURCE Prime Lithium
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