One World Lithium Provides Update on Direct Lithium Extraction Program with the United States Department of Energy
"The DOE technology is an advanced direct lithium extraction ("DLE") process that rapidly generates lithium carbonate by mixing carbon dioxide and brine in a multi-step sequence in a unique regime of temperature and pressure," says Jack Lifton, LLC, an advisor to OWL who oversees OWL's DLE programs. "A successful commercial plan, under the agreement, will be the production from brine of a low cost, high yield, and high purity lithium carbonate product suitable for inclusion into a lithium-ion battery production system." For additional detail see Company's press release dated March 23, 2022.
Benchmark Mineral Intelligence Limited asks, "Where will new lithium supply come from in 2022"1 in new market report that suggests new lithium supply can not be brought to the market fast enough to combat the growing demand.
"As the lithium supply is already facing large deficits, there are several junior players vying to be among the next low-cost lithium producers that are working hard to bring lithium to the market," says Jack Lifton a technically advisor to OWL and is directly involved in its DLE program. "Many of these new players are strategically looking for new extraction technologies to bring 'greener and cleaner lithium' to the market quicker and at lower costs on a global basis. We are hopeful that the DOE's patented extraction technology, following additional proving-up and commercialization, is able to fill part of the large sustainable green technology space.
Possible Impacts on OWL's Future Funding
"There are large funds set aside by the Federal Governments of the United States and Canada to underwrite the development of commercial production of critical metals and materials in North America," says Jeff Hulings, who is a consultant to OWL as well as the President of J & L Solutions that specialize in marketing green technologies and tracking government Grants in the USA and Canada. Jeff notes "If the DOE approves OWL's proposal to commercialize its DLE Patent, we believe that OWL is in an excellent position to apply for and receive grant funds to commercialize the DOE/NETL's DLE patent."
In keeping with OWL's dual focus on both separation technologies and seeking lithium-brine projects where DLE technologies may be beneficial, OWL is in the process of seeking Directors and Officers who have previous experience in the lithium industry and may be well known to the investment community.
About One World Lithium Inc.
One World Lithium Inc. remains focused on properties of merit that may contain lithium carbonate in a brine. The Company is also focused on commercial application of the DOE's separation technology. OWL intends to license or joint venture its technology to current and future lithium carbonate producers. For more information, visit: https://oneworldlithium.com/.
On behalf of the Board of Directors of One World Lithium Inc.,
President and Chief Executive Officer
For further information please visit www.oneworldlithium.com or email firstname.lastname@example.org or call 1-604-564-2017 Extension-3.
Forward-Looking Information: This press release may include forward looking information within the meaning of Canadian securities legislation. Forward looking information is based on certain key expectations and assumptions made by the management of the OWL, including any statements regarding beliefs, plans, expectations or intentions regarding the future, including, but not limited to: OWL's mission to own low-cost lithium separation technologies with the ability to produce a 95% recovery of battery grade lithium; OWL's ability receive grant funds to commercialize and fund the DLE patent; and the intention of OWL to proceed with the advancement of properties and the new critical separation technology. Although OWL believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because OWL can give no assurance that they will prove to be correct. Forward looking statements contained in this press release are made as of the date of this press release. OWL disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from the those anticipated in such statements. Accordingly, important factors that could cause actual results to differ materially from the Company's expectations including, but not limited to: (I) OWL's inability to execute its business plan and raise the required financing; (II) OWL's inability to prove-up and commercialize the NETL patent and separation technology; (III) risks and market fluctuations common to the mining industry and lithium sector in particular; (IV) advancement in new separation technologies; and (v) other risks outside the direct control of OWL. The novel strain of coronavirus, COVID-19, and continuing conflict between Russian and the Ukraine also poses continuing risks that are currently indescribable and immeasurable. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect and is advised not to place undue reliance on any forward-looking information contained in this press release.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
1 Benchmark Mineral Intelligence, "Where Will New Lithium Supply Come From in 2022?" (February 4, 2022)
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