- GOAT Industries (GOAT) provides an update on the acquisition of Direct Lithium Extraction technology
- DLE is more cost-effective extraction technology than fractional crystallization, membrane filtering, MOFs, adsorption, reverse osmosis, and ion exchange
- GOAT Industries (GOAT) is an investment issuer focused on investing in high-potential companies operating across a variety of sectors
- GOAT Industries (GOAT) is down today, trading at C$0.04 as of 4:32 pm ET
GOAT Industries (GOAT) provides updates on the acquisition of Direct Lithium Extraction technology.
The company is working through the due diligence of 1000288601 Ontario and its Canadian license for a leading Direct Lithium Extraction (DLE) technology. The DLE technology has been developed by private industry as well as university researchers based out of Australia. As GOAT understands, it is a more cost-effective extraction technology than fractional crystallization, membrane filtering, MOFs, adsorption, reverse osmosis, and ion exchange. Upon closing, it is GOAT’s intention to pursue commercial partnerships with explorers and producers in brine-rich Canadian jurisdictions.
The DLE Technology has the potential to reduce capital and operating costs while accelerating lithium-based battery metal project startups. This is done through no evaporation requirements, increased lithium recovery, increased production flexibility, reduced residence time; no groundwater disturbance; and increased percentage of solvents recovered and reused.
Lithium demand is projected to rise from approximately 500,000 metric tons of lithium carbonate equivalent in 2021 to some 3-4 million metric tons in 2030.
At the same time, surging electric vehicle demand has seen lithium prices skyrocket by around 550 percent in a year: by the beginning of March 2022, the lithium carbonate price surpassed $75,000 per metric ton, and lithium hydroxide prices surpassed $65,000 per metric ton (compared with a five-year average of around $14,500 per metric ton).
Generally, direct lithium extraction can be a driving force behind the lithium industry’s ability to respond to the expected demand increase more swiftly. DLE offers an opportunity not only to increase the industry supply of lithium but to reduce the industry’s ESG footprint and provide a lower-cost method of extraction.
GOAT Industries (GOAT) is an investment issuer focused on investing in high-potential companies operating across a variety of sectors.
GOAT Industries (GOAT) is down today, trading at C$0.04 as of 4:32 pm ET.
