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Prime Lithium LLC has entered into a strategic partnership with IBC Advanced Technologies, Inc. to develop a large-scale battery-grade lithium hydroxide and carbon storage project in Wyoming, U.S.A. utilizing IBC's proprietary Direct Lithium to Product (DLP) process. The DLP process provides a rapid, direct route to produce environmentally friendly battery-grade lithium end-products. The partnership aims to initially produce 8,000 tons per year of lithium hydroxide with plans to expand production to 35,000 tons per annum and to geologically store large volumes of carbon dioxide while producing clean water for the region.
Project Sweetwater (100% Prime) seeks to deliver American domestically produced Lithium, in a sustainable, environmentally responsible manner, which will add to the overall value chain servicing the nation's electric vehicle, devices, and grid energy storage sectors. What makes the Sweetwater project unique is the ability to cost effectively produce battery-grade lithium hydroxide in a way that is both carbon neutral and generates clean water for local use. Project Sweetwater seeks to provide long-term employment, incorporating strong workforce training and development. Once completed, the impact of the Sweetwater Project on Wyoming will be significant, with the potential to make a real impact broadly across the nation.
Prime Lithium aims to develop Project Sweetwater to become a leading critical mineral operation with unparalleled environmental and social credentials. For every 1 kg of battery grade lithium hydroxide produced, the project will create 22 tons of carbon dioxide disposal and storage capacity and approximately 370,000 gallons of clean water, with minimal waste. Uniquely, the project's lithium product will be supplied with attaching carbon and water offsets, enabling manufacturers to provide battery components that are carbon-neutral and water-neutral into their products.
With an estimated 1.8 billion tons of brine mineral resource and targeting over 5 billion tons of brine, the Project is expected to be one of the largest lithium hydroxide production centers in the world, as well as one of the largest carbon storage projects globally. Importantly, the Project's process methodology can assist in alleviating pressure on the Colorado River System so it can continue to serve as an economic artery of the region, including powering hydroelectric dams required for the energy transition. The Project has an initial clean water resource of 4 billion gallons with scale to increase this strategic resource to 558 billion gallons.
Uniquely, the multibillion-dollar project has already well-established infrastructure including 'Direct to Market' rail and interstate highway to all major battery plant centers and other U.S. customers. With 'on lease' road, rail, gas, fuel, power, communications and a Federal and State approved CO2 corridor, Project Sweetwater is nearly ready, with production trials scheduled for later this year.
The market opportunity of the project is made possible by the innovative DLP process which consumes little to no water, is highly energy-efficient and has been demonstrated at large pilot scale in Chile to directly produce battery-grade (99.5%) lithium hydroxide with non-detectable levels of magnetic and other impurities. Importantly, the process does not require the need to first produce lithium carbonate resulting in high yielding (99% overall recovery) operations.