Summit Nanotech and Zelandez Partner to Boost Lithium Carbonation Project in South America
Summit Nanotech and Zelandez have signed a non-binding letter of intent (LOI) on May 14, 2024, to streamline the process from brine to battery, utilizing Summit's denaLi Direct Lithium Extraction (DLE) technology and Zelandez's ErLi carbonation technology. This LOI initiates discussions for an evaluation project using brine from one of Summit's South American salars to produce battery-grade lithium carbonate.
The partnership comes as UN Trade & Development (UNCTAD) predicts lithium demand could increase by over 1,500% by 2050 to meet global net-zero emission targets. BloombergNEF estimates that lithium production utilizing DLE technology will reach 526 kt by 2030. Summit's denaLi DLE has demonstrated a 96% lithium recovery rate with South American brines.
New mining projects are essential to produce the critical minerals needed for the green electric revolution. Summit and Zelandez aim to support this by demonstrating commercial-scale production of lithium carbonate.
Amanda Hall, CEO of Summit Nanotech, commented, "Zelandez is a company with deep experience and knowledge of the brine reservoirs of South America. We plan to use their brine field services in the exploration and development stage of our assets, and we are even more supportive now that they are developing a modular back-end carbonation process. We can move our joint venture assets into production faster by using incremental phases of drilling, DLE, and carbonation on-site.
"The collaboration intends to significantly reduce the time and environmental footprint associated with lithium production. They are targeting high-quality lithium production assets in the lithium triangle.Gene Morgan, CEO of Zelandez, stated, "We've often said at Zelandez that it's the people that make any deal or job worth doing. Working with Amanda Hall and the Summit Nanotech team is a natural fit, as they are a fantastic group of engineers and geoscientists -- we both value agility, scientific rigor, reducing environmental impact, and respecting local communities. We see this LOI as the first step in a long strategic alignment."
