International Battery Metals, Inc. is evaluating lithium extraction technology for licensing that would allow it to become the lowest cost producer of lithium using this proven and proprietary lithium extraction process from oilfield and geothermal brines. The technology that we are evaluating it is expected can extract and produce lithium products, including lithium chloride, lithium carbonate, and lithium hydroxide at costs similar to current low-cost lithium producers such as Albermarle, SQM, and FMC. Lithium carbonate and lithium hydroxide are essential components for the manufacture of lithium ion batteries. Lithium chloride is an intermediate product used primarily as feedstock for the refining of lithium carbonate, and lithium hydroxide.
An essential part of our strategy is to differentiate itself from the pack of lithium-oriented venture-stage companies by quickly going to the production stage using a proprietary technology. Not one of the other small resources companies engaged in lithium resource identification and acquisition has a viable process for extracting lithium on a commercial basis from a North American source in any reasonable time frame (i.e. less than five years). Most of the current processes are not proven; and hence have an inherent risk of being able to scale the technology to a commercial facility capable of delivering lithium products on a competitive cost basis.