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ILiAD to be Licensed and Deployed at Livent's Resource in Argentina
SAN DIEGO, Dec. 14, 2023 /PRNewswire/ -- Today, ILiAD Technologies, LLC and Livent Corporation (NYSE:LTHM) announced an agreement whereby Livent has acquired a minority stake in the parent company of ILiAD Technologies. ILiAD Technologies' parent company is a subsidiary of EnergySource Minerals (ESM), a leading developer of lithium projects in the Salton Sea Known Geothermal Resource Area in California. ILiAD Technologies will seek to commercialize and continue to develop the ILiAD (Integrated Lithium Adsorption Desorption) technology platform.
ILiAD uses an innovative direct lithium extraction (DLE) technology that was developed over seven years of research and pilot testing by ESM. This highly efficient and flexible extraction technology can be used to recover high-purity lithium chloride from lithium-laden brine resources around the world, including brine from salars, produced water, geothermal brine operations, and other lithium resources.
In connection with its investment in ILiAD Technologies, Livent will have the right to license ILiAD technology for anticipated deployment at its lithium brine resource in Argentina (Salar del Hombre Muerto), and is evaluating opportunities for future production use across its portfolio. The ILiAD solution is complementary to Livent's proprietary process technologies and readily fits into the company's existing plant designs and flowsheet. Additionally, ILiAD offers the potential for significant improvements in Livent's energy usage and carbon footprint as well as continued improvements in water use. Commercial utilization of ILiAD at Livent could begin as early as 2025.
"Livent is the world's foremost practitioner and largest user of DLE-based production processes, and we are thrilled that they have recognized the advantages that ILiAD brings to the future of DLE. Our technology enhances the lithium extraction process with a fraction of the physical footprint of traditional operations, significantly less water use and lower carbon emissions than many other DLE solutions, and no consumption of reagents," said Samuel Moore, Chief Executive Officer of ILiAD Technologies. "This partnership represents a major step in our mission to deploy ILiAD for environmentally responsible lithium production across the world," added Moore.
"We are excited to partner with ILiAD Technologies as we continue to invest in processes and technologies which advance our strategy of producing high-quality lithium chemicals efficiently and sustainably," said Paul Graves, Livent's President and CEO. "The ILiAD platform is a next generation, best-in-class technology that we expect will enhance and complement Livent's existing proprietary processes, helping us build upon our decades-long record of successfully using DLE-based production processes at commercial scale."
Evercore acted as a financial advisor to ESM and ILiAD Technologies.
ABOUT ILiAD TECHNOLOGIES
ESM ILiAD is a private direct lithium extraction (DLE) technology company affiliated with EnergySource Minerals. The company licenses the ILiAD Technology Platform, a proprietary breakthrough technology which combines a superior lithium selective adsorbent with continuous countercurrent bed processing to deliver a unique, patented solution capable of concentrating and treating a vast range of lithium laden brines under a wide variety of conditions. The technology is poised to be deployed globally to sustainably produce lithium to meet the immense and growing demand for its use in the manufacturing of Electric Vehicle batteries.
ESM shareholders are TechMet Limited, a leading technology metals investment company with a portfolio of assets that responsibly produce, process, and recycle the metals that are critical to the global energy transition and the electric vehicle revolution; SLB New Energy, a global technology company driving energy innovation to accelerate decarbonization; Catalyst Geothermal LLC and LiNergy LLC, both U.S. based private investors in new energy technologies; and Mercury NZ Ltd., a New Zealand electricity generation and multi-product utility retailer.
For more information, visit: https://www.iliadtech.com/.
ABOUT LIVENT
For nearly eight decades, Livent has partnered with its customers to safely and sustainably use lithium to power the world. Livent is one of only a small number of companies with the capability, reputation, and know-how to produce high-quality finished lithium compounds that are helping meet the growing demand for lithium. The Company has one of the broadest product portfolios in the industry, powering demand for green energy, modern mobility, the mobile economy, and specialized innovations, including light alloys and lubricants. Livent has a combined workforce of approximately 1,350 full-time, part-time, temporary, and contract employees and operates manufacturing sites in the United States, England, China and Argentina. For more information, visit Livent.com.
Media Contacts:
ILiAD Technologies: John Horstman | media@ILiADtech.com | +1 (224) 430-1910
Livent Media: Juan Carlos Cruz | Juan.Carlos.Cruz@Livent.com | +1 (215) 299-6725
Livent Investor Relations: Daniel Rosen | Daniel.Rosen@Livent.com | +1 (215) 299-6208
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements in this news release are forward-looking statements. In some cases, we have identified forward-looking statements by such words or phrases as "will likely result," "is confident that," "expect," "expects," "should," "could," "may," "will continue to," "believe," "believes," "anticipates," "predicts," "forecasts," "estimates," "projects," "potential," "intends" or similar expressions identifying "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including the negative of those words and phrases. Such forward-looking statements are based on our current views and assumptions regarding future events, future business conditions and the outlook for the Company based on currently available information. There are important factors that could cause Livent's actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements, including the factors described under the caption entitled "Risk Factors" in Livent's 2022 Form 10-K filed with the Securities and Exchange Commission ("SEC") on February 24, 2023, as well as other SEC filings and public communications. Although Livent believes the expectations reflected in the forward-looking statements are reasonable, Livent cannot guarantee future results, level of activity, performance or achievements. Moreover, neither Livent nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. Livent is under no duty to update any of these forward-looking statements after the date of this news release to conform its prior statements to actual results or revised expectations.
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