Exclusive-In lithium industry first, IBAT commercializes new extraction technology [Yahoo! Finance Canada]
ERAMET SA UNSP/ADR (ERMAY)
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Source: Yahoo! Finance Canada
become the first company to commercially produce lithium with a novel type of filtration technology, a step expected to usher in cheaper and faster supplies of the electric-vehicle battery metal. At a site in rural Utah controlled by privately-held US Magnesium, IBAT started producing this week commercial volumes of lithium at a rate of nearly 5,000 metric tons per year using its version of a direct lithium extraction (DLE) technology. The breakthrough has not been previously reported. ADVERTISEMENT The company, which developed its DLE plant to be portable, has essentially beaten Standard Lithium, SLB, Rio Tinto, Eramet and others to be first to that mark. Industry investors, analysts and customers have waited years for commercial level output. With DLE now proven on a commercial scale, it is expected to grow within a decade into an industry with $10 billion in annual revenue by transforming the speed and efficiency of lithium production for EV manufacturers and others, anal
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