- Clontarf Energy plc will contribute USD
$500,000 for the Exclusive Rights to use NEXT-ChemX’s Direct Lithium Extraction Technology inBolivia .
Following a period of due diligence expected to lead to formal agreements expanding the Heads of Agreement, the parties will form a 50-50 Joint Venture (“JV”) that will market, deploy, and exploit
NEXT-ChemX’s iTDE technology uses the very high surface area of hollow fiber membranes to extract lithium ions from brines. The technology is a continuous process, and does not require high pressure, temperature or electrolysis. It does not rely on traditional processes, but instead mimics biophysical processes of natural principals to induce ions in solution to cross the membrane barrier.
The iTDE technology has been proven to be effective and efficient during laboratory testing, and in the Board’s view, iTDE is an innovative approach to direct lithium extraction.
Environmental attractions include limited energy and water consumption, extracting the targeted ions and generating minimal waste. It is suited for lithium extraction from Bolivian brines, where evaporative ponds are not optimal due to rainfall conditions, altitude and magnesium content.
Clontarf is in discussions with Bolivia’s state-owned lithium company (“YLB”) to test NEXT-ChemX’s proprietary iTDE technology on priority brines, which may include identified salares on which preliminary samples have been taken.
The pilot plant testing and extraction will begin during Spring 2023, including both preliminary testing, as well as pilot plant operations, with results expected by Summer 2023.
Heads of Agreement Terms:
A 50:50 joint venture company to be formed on completion of due diligence will have the exclusive rights to the marketing, testing and deployment of NEXT-ChemX’s iTDE technology in
Clontarf Energy plc to contribute
Clontarf Energy plc will issue shares as follows to
- 385 million new Ordinary Shares of Clontarf on payment of the
USD$500,000 Exclusivity Fee toNEXT-ChemX ; and - 250 million new Ordinary Shares of Clontarf after successful pilot processing of Bolivian brines through the
NEXT-ChemX pilot plant; and - 250 million new Ordinary Shares of Clontarf after entry into a construction and processing contract between the JV and the Bolivian authorities on processing of Bolivian brines utilizing NEXT-ChemX’s iTDE technology.
On behalf of the Board of
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Contact:
President
Phone: +1 512 663 2690
email: m.johnson@next-chemx.com
email: info@next-chemx.com
LinkedIn: https://www.linkedin.com/company/next-chemx
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