FinancialBuzz.com: Benefits of Clean Energy Pushes Lithium Market

NEW YORK, February 1, 2017 /PRNewswire/ --

According to a recent market research published by Transparency Market Research, the global lithium-ion battery market is projected to grow from $29.68 billion in 2015 to $77.42 billion by 2024, which is a strong CAGR of 11.6% for the projected time period. Due to technological innovation in the energy field related to lithium, demand for lithium-ion batteries is expected to increase among several sectors, including Consumer Electronics, Automotive and Grid Energy & Industrial Applications. Lithium X Energy Corp. (TSX-V: LIX) (OTC: LIXXF), Albemarle Corporation (NYSE: ALB), Sociedad Quimica y Minera de Chile (NYSE: SQM), FMC Technologies Inc. (NYSE: FTI), Tesla Motors Inc. (NASDAQ: TSLA)

A key factor for the future of the lithium-ion battery market is a growing shift toward sustainable clean fuels in the automotive sector. 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."

Lithium X Energy Corp. (OTCQX: LIXXF) (TSX-V: LIXLithium X owns 50 per cent, and has the option to acquire up to 80 per cent, of the Sal de los Angeles lithium brine project in the prolific Lithium Triangle in mining-friendly Salta province, Argentina. Lithium X's Arizaro project consists of 33,846 hectares located in one of the world's largest salars thought to contain elevated lithium brine values. Lithium X is also exploring a large land package in Nevada's Clayton Valley, contiguous to the only producing lithium operation in North America -- Silver Peak, owned and operated by Albemarle, the world's largest lithium producer.

Earlier today, Lithium X Energy Corp announced that, "the appointment of Timothy McKenna ("McKenna") as Vice President, Investor Relations, US Government Relations and Corporate Communications, effective February 1, 2017. In this role, he will lead the Company's communications strategy with investors, the media and government, community and industry audiences.

Mr. McKenna joins Lithium X with 35 years of experience in investor relations and communications.  He was vice president of Rockwood Holdings Inc., then the largest manufacturer of lithium, from 2006 until Rockwood's $6.2 billion combination with Albemarle Corporation.  During his tenure, he created Rockwood's investor relations and communications program and was instrumental in working with the U.S. Department of Energy to help Rockwood gain a $28 million grant to expand its lithium operations in North Carolina and Nevada's Clayton Valley.  Previously he was senior vice president of investor and government relations for Smurfit-Stone Container Corp., then the largest containerboard manufacturer.

"We are extremely pleased to welcome Tim McKenna to our executive team," commented Brian Paes-Braga, Lithium X CEO. "Tim's background speaks for itself.  His skills and experience with the investment community and in particular the lithium space, being an integral part of the growth of Rockwood from a small cap company to a successful $6.2 billion take-over in 2014 will help us expand our shareholder base in the US and beyond as we continue to pursue our strategic goal of becoming the go-to upstream lithium company."

Albemarle Corporation (NYSE: ALB) is a global specialty chemicals company with leading positions in lithium, bromine, refining catalysts and applied surface treatments. The company powers the potential of companies in many of the world's largest and most critical industries, from energy and communications to transportation and electronics. Working with their customers, they develop value-added, customized solutions that make them more competitive. Albemarle solutions combine the finest technology and ingredients with the knowledge and knowhow of our highly experienced and talented team of operators, scientists and engineers.

Sociedad Quimica y Minera de Chile (NYSE: SQM) is a producer of potassium nitrate and iodine. The Company produces specialty plant nutrients, iodine derivatives, lithium and its derivatives, potassium chloride, potassium sulfate and certain industrial chemicals. Its segments include specialty plant nutrients, industrial chemicals, iodine and derivatives, lithium and derivatives, potassium, and other products and services. Specialty plant nutrients are fertilizers that enable farmers to improve yields and the quality of certain crops. Industrial chemicals have a range of applications in chemical processes, such as the manufacturing of glass and industrial nitrates. Iodine and its derivatives are used in the X-ray contrast media and biocides industries, among others.

FMC Technologies Inc. (NYSE: FTI) and Technip combined to become "TechnipFMC", a global leader in subsea, onshore/offshore and surface projects. 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.

Tesla Motors Inc. (NASDAQ: TSLA) has produced 24,882 vehicles in Q4, resulting in total 2016 production of 83,922 vehicles. This was an increase of 64% from 2015. Tesla delivered approximately 22,200 vehicles in Q4, of which 12,700 were Model S and 9,500 were Model X. When added to the rest of the year, total 2016 deliveries were approximately 76,230. Tesla Motors, Inc. designs, develops, manufactures and sells electric vehicles and energy storage products. The Company produces and sells two electric vehicles: the Model S sedan and the Model X sport utility vehicle.

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