- E3 Lithium provided an update on the selection process for direct lithium extraction technology in its field pilot plant
- In determining the basis for its commercial design, E3 Lithium evaluated its proprietary DLE technology along with four third-party DLE technologies
- The company evaluated the DLE technologies along with the downstream refining process and has selected the optimal combination that outlines the best technical and economic results, while helping de-risk its path to commercialization
- E3 Lithium stock opened trading at C$1.83 per share
E3 Lithium (TSXV:ETL) provided an update on the selection process for direct lithium extraction (DLE) technology in its field pilot plant.
In determining the basis for its commercial design, E3 Lithium evaluated its proprietary DLE technology along with four third-party DLE technologies. The company stated that each one demonstrated technical success for the extraction of lithium from its brines.
The company evaluated the DLE technologies along with the downstream refining process and has selected the optimal combination that outlines the best technical and economic results, while helping de-risk its path to commercialization.
E3 Lithium is proceeding with third-party DLE technology for its first commercial facility and will continue to pursue the development of its proprietary technology for subsequent commercial facilities.
“Since the company was founded in 2016, the number and maturity of DLE technologies available have increased significantly,” Chris Doornbos, president and CEO of E3 Lithium said in a news release. “The team has completed a significant amount of engineering and process design work to enable the company to make this decision that we believe will allow us to move smoothly through the next phases of engineering towards commercial operations. Selecting third party technology allows us to secure a system that is at an advanced stage of commercial readiness and provides a viable path towards securing supply agreements and project financing for our first commercial facility.”
E3 Lithium intends to produce battery-grade lithium products through high-recovery direct extraction technology to support global electrification. The company is developing an Alberta-based resource of 16 million tonnes of lithium carbonate equivalent measured and indicated and 0.9 million tonnes inferred.
E3 Lithium stock opened trading up more than 2 per cent at C$1.83 per share. The stock is down by 21.89 per cent year-over-year but has gained 574.07 per cent since 2019.
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