With accelerating sales of electric cars in the automotive industry, the lithium market is expected to grow exponentially. As the battery-electric vehicle (BEV) sales is expected to reach close to 50% of the global market by 2030, lithium will remain in high demand for decades. Not just in automotive industry, but in other industrial sectors such as energy storage, electronic bikes, electrification of tools and other battery-intense applications are some of the fast-growing markets which largely depends on lithium industry.
Most of the lithium reserves in United states are from continental, geothermal, and oilfield brines, as well as hectorite, and pegmatites which account for 6.8 million tons. The traditional processing of lithium from brines from hard rock and brine deposits are currently unable to meet the future lithium markets. Unlike traditional methods of lithium extraction that require large evaporation ponds and high processing time that are expensive, Minerva Lithium technology allows low cost lithium extraction that requires minimum-energy to generate high grade lithium. The equivalent of 24 months of lithium extraction in evaporation ponds can be achieved in a few hours using the Minerva Lithium process. We are able to apply our technology to large-scale lithium extraction regardless of the source of the brine.
The Company’s unique nanomosaic membrane filters are capable of treating 12.5 gallons per minute with continuous brine processing. Our process can be customized to meet the low concentrations of lithium of brine offering high selectivity while rejecting other impurities. Minerva lithium technology is a filtration-based company and is building partnerships with produced water companies, brine developers and water filtration operators around the world.
Other valuable minerals like Magnesium, Zinc, Bromine and many more that have commercial viability are present in brines. Treating brine resources such as geothermal, oilfield and salar could allow our nanomosaic filter to be multi-purposed in a project. The nano-mosaic membrane technology in Minerva Lithium could be customized to meet the needs of the customers.
Produced water, also known as oilfield brines, is one of the resources for lithium. Once the lithium is extracted, the water can be further treated for supporting beneficial use of brine water. It is a natural groundwater and a by-product that is generated during exploration and operations of oil and natural gas, coal bed methane, tight sands, and gas shale. The global market size was valued at $ 5.8 billion in 2015 and is expected to grow at a compound annual growth rate (CAGR) of 6.0% to $ 13 billion from 2020 to 2024.
regulations regarding produced water discharge limits. The U.S. is a major country in the global production of produced water i.e. 2.5 billion barrels per day and dominated produced water market in 2015, accounting for 42.5% share of the total revenue. The growing stringent environmental policies and practices with zero discharge limits of oil concentrations in disposed streams and growing need for new water supplies is expected to increase the usage of water management services.
Minerva lithium technology exclusively utilizes nanomosaic filtration system to provide water for various operators such as hydraulic fracturing, agriculture, municipal and industry use, drinking water and energy production. The technology provides the secondary and tertiary treatment of water without any intensive operational intervention.