NEW YORK, January 23, 2017 /PRNewswire/ --
http://www.Financialbuzz.com - Lithium has become high-demand metal and the increasing popularity of which is driven by rapid expansion in the lithium-ion (Li-Ion) battery industry. According to Freedonia Group Global demand for lithium metal is projected to rise 8.9 percent per year through 2019 to 49,350 metric tons. Converting the metric tons into dollar value using the lithium carbonate equivalent (LCE), the value of the global lithium market is projected to reach $1.7 billion. Lithium-ion batteries are in demand for hybrid and electric vehicles, energy storage systems, and high-drain portable electronics. MGX Minerals Inc. (OTC: MGXMF) (CSE: XMG.CN), FuelCell Energy Inc. (NASDAQ: FCEL), Ballard Power Systems Inc. (NASDAQ: BLDP), SolarEdge Technologies Inc. (NASDAQ: SEDG), Plug Power Inc. (NASDAQ: PLUG)
The report also indicates that, "Rising production of primary lithium batteries will also support market gains, especially as improving incomes in emerging economies spur shifts to better performing primary batteries. Other major markets for lithium -- including glass and ceramics, lubricating grease, and metallurgy -- are forecast to post relatively moderate gains."
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 operates lithium, magnesium and silicon projects throughout British Columbia and Alberta.
MGX Minerals Inc. announced earlier today that the, "formation of the PetroLithium Corporation of America, a 100% owned U.S. subsidiary (the "PetroLithium Corporation") of the Company. MGX has mandated PetroLithium Corporation to acquire oil field assets, including brine-bearing lithium resources, oil wells and existing oil and gas ("O&G") infrastructure. Staking and oil well acquisition activities in lithium brine-bearing areas of Utah have already commenced. Additionally, acquisition and exploration activities are expected to commence shortly in Colorado, Texas and Arkansas. All states are host to significant current and past producing oil production associated with areas of enriched minerals including sodium, calcium, magnesium, potassium, boron, bromine and lithium.
Geological Overview- PetroLithium Corporation is focusing activities on the Mississippian and Pennsylvanian (Carboniferous) age aquifers of the Paradox Basin (UT, CO) and the Jurassic Period Smackover Formation (TX, AK)…
Extraction of Lithium from Oil Field Brine - MGX recently reported the extraction of lithium from oil wastewater using its patent pending process (U.S. Provisional Patent #62/419,011) for the extraction of lithium and other valuable minerals from oil brine (see press release dated January 3, 2017). It is the only patent of its kind providing for the rapid extraction of lithium and other valuable minerals from oilfield brine. Current conventional production of lithium from brine takes up to 18 months due to the solar evaporation phase. MGX's process eliminates the solar evaporation step, reducing potential production to one day and representing a reduction of >99% and a by-product of re-useable, non-toxic water. The treatment of oil wastewater offers significant revenue potential and environmental benefit in addition to mineral extraction as the processing removed all suspended solids, including 99.7% of hydrocarbons and 99.9% of silica and other scale-forming minerals. With its engineering partner PurLucid Treatment Solutions Inc., MGX expects deployment of pilot plant shortly. Commercial deployment is expected in the second half of 2017 and off-take negotiations are underway.
The Company has filed a trademark application with the United States Patent & Trademark Office for the name Petrolithium for future use in commerce, and if granted will give MGX exclusive right to its use in trade. Canadian Lithium Portfolio - MGX is the largest holder of mineral permits covering known lithium-bearing brine areas in Canada with a land package encompassing nearly 500,000 hectares (1.2 million acres). All permits are focused on major oil and gas production areas of Alberta. Along with oil and gas, these areas currently produce more than one million barrels per day of brine.
Qualified Persons - The technical portions of this press release has been reviewed by Andris Kikauka (P. Geo.), Vice President of Exploration for MGX Minerals. Mr. Kikauka is a non-independent Qualified Person within the meaning of National Instrument (N.I.) 43-101 Standards."
FuelCell Energy Inc. (NASDAQ: FCEL) has stationary fuel cell power plants, Direct FuelCell® that generates ultra-clean, efficient and reliable power on three continents, affordably providing continuous distributed power generation to a variety of industries including utilities, commercial and municipal customers. The Company's power plants have generated billions of kilowatt hours of ultra-clean power using a wide variety of fuels including renewable biogas from wastewater treatment and food processing, as well as clean natural gas.
Ballard Power Systems Inc. (NASDAQ: BLDP) announced that the company's subsidiary, Protonex, has received certification from the U.S. Government enabling its industry-leading SPM-622 (Squad Power Manager) and VPM-402 (Vest Power Manager) products to be exported under the Commerce Department's Export Administration Regulations, classification EAR99. With this classification, these products can be sold to allied military partners as well as commercial customers without the need for an export license. Protonex Power Manager enables military personnel, along with commercial users such as mountain climbers and other extreme sports enthusiasts to recharge GPS systems, laptops, night-vision goggles and virtually any other portable equipment from any military or civilian energy source.
SolarEdge Technologies Inc. (NASDAQ: SEDG) offers an inverter solution for a solar photovoltaic system. The Company's products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management. The Company's power optimizers provide module-level maximum power point tracking and real-time adjustments of current and voltage to the optimal working point of each individual PV module. The Company's solution consists of a direct current power optimizer, an inverter and a cloud-based monitoring platform that operates as a single integrated system.
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. The Company's product line includes GenKey, GenDrive, GenFuel, GenCare and ReliOn. GenKey offers solutions to customers transitioning their material handling vehicles to fuel cell power. GenDrive is a hydrogen fueled proton exchange membrane fuel cell system. It provides power to material handling vehicles. GenFuel is a hydrogen fueling delivery system. It is designed to allow customers to refuel its GenDrive units for productivity. GenCare is an ongoing maintenance program for both the GenDrive fuel cells and GenFuel products. ReliOn is a stationary fuel cell solution. It provides scalable, modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation and utility sectors.
Please SIGN UP NOW at http://www.FinancialBuzz.com To Receive Alerts on Trending Financial News from all these companies. "The Latest Buzz in Financial News"
Subscribe Now! Watch us report from NYSE https://www.youtube.com/FinancialBuzzMedia
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz
Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR branding, marketing and advertising for third parties for disseminating news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.
For further information: Media Contact: firstname.lastname@example.org, +1-877-601-1879