International Battery Metals Inks Deal for Modular Direct Lithium Extraction Plant

Term Sheet Signing with U.S. Customer

International Battery Metals (IBAT) has signed a term sheet for the deployment of its Modular Direct Lithium Extraction Plant (MDLE Plant) with a customer in the western United States. This customer is noted for being a significant producer of metals and minerals, including battery-grade lithium carbonate.

IBAT's MDLE Plant, featuring proprietary selective absorption media, is designed to minimize chemical usage, reduce by-product waste, and recover over 98% of process water. Per the term sheet, IBAT will begin moving the MDLE Plant to the customer’s site for integration into existing production facilities. The initial production target post-commissioning is set at approximately 4,000 metric tons per annum of lithium carbonate, with ambitions to exceed 8,000 metric tons annually by optimizing the plant's performance. This integration marks the first commercial direct lithium extraction operation in North America.

Comments from IBAT Leadership

John Burba, Founder and Chief Technology Officer, expressed excitement about reaching full commercialization with the MDLE Plant. Garry Flowers, Co-Chief Executive Officer, highlighted the significance of integrating the plant with a customer that has existing production facilities. Michel Libor, Co-Chief Executive Officer, noted this as a major milestone, underscoring the operational benefits and the launch of commercial operations.

Originally constructed in Lake Charles, Louisiana, the MDLE Plant underwent extensive testing and received independent third-party validation of its performance. Its modular design facilitates mobilization to the customer's facilities. Post-operation commencement, the plant will undergo optimization, including adding additional extraction modules and increasing capacity for brine flow.